There's a drop in the supply of diesel on the international market, IES
Brace up for further increment in diesel price, IES to drivers
There's been an astronomical increase in the price of diesel. This comes after the Institute of Energy Security (IES) projected that, Ghana is likely to face a shortage of diesel due to Russia's invasion of Ukraine.
Diesel, which was previously sold at GH¢10.70 pesewas now sells at GH¢11.24 pesewas at various pumps.
Petrol, however, has seen a marginal decrease in its price as sells at GH¢9.35pesewas.
It was previously sold at GH¢9.80 pesewas after it crossed the GH¢8 mark.
Shortage of diesel to hit Ghana due to Russia-Ukraine war - IES projects
The Institute of Energy Security (IES) on Friday, May 6, 2022 projected that Ghana is likely to face a shortage of diesel in the coming months.
According to a Research Analyst at the Institute, Fritz Moses, there is a shortage of diesel on the international market due to the Ukraine-Russia war.
Speaking on TV3's Sunrise programme, Fritz Moses stated categorically that already, there is a drop in the supply of this petroleum product [diesel].
He said, “we have been monitoring the market since the beginning of the year but we don’t have a widespread report on the shortage in Ghana.”
“There is some shortage on the international market due to the Ukraine-Russia war which is also impacting on the local market. Yes, in the international market, we are seeing some drop in supply of diesel and that will cause a shortage on the local market,” he added.
Meanwhile, some Oil Marketing Companies (OMCs) in Ghana have been affected as there is no diesel at some pumps, a 3news report stated.
He, therefore, entreated drivers, and transport operators to embrace themselves up for further increment in the price of diesel.
