Fuel price volatility far from over as Middle East crisis deepens - COMAC CEO
Dr. Riverson Oppong, CEO of COMAC, stated on JoyNews' PM Express Business Edition on Thursday that renewed tensions between the United States and Iran are keeping Ghana's fuel market on edge. He said, "Personally, I wasn't shocked to hear the turnaround of the peace deal because we've lived within this uncertainty for the past months, and only Trump knows when he's going to ceasefire, or probably only Iran knows when they're actually going to ceasefire."
Dr. Oppong warned that this uncertainty exposes Ghana's downstream petroleum sector to significant risks due to sharp swings in international fuel prices. He explained that rising prices are generally easier for industry players, including Oil Marketing Companies (OMCs) and Bulk Distribution Companies (BDCs), to manage as costs can be passed to consumers. However, falling prices create more severe financial pressure, being "a bit deadly" for OMCs and BDCs.
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Ghana's fuel market faces ongoing instability due to renewed tensions between the United States and Iran, threatening price stability. This
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