Motorists across the country could soon experience significant relief at the pumps, as an energy expert hints at a potential return to pre-crisis fuel pricing if current global market conditions persist.
Mr Samson Addea, a renowned energy analyst, has linked the anticipated downward adjustment in petroleum prices directly to stabilizing international developments. His remarks come on the heels of an official forecast by the Chamber of Oil Marketing Companies, which projected a marginal reduction in petrol and diesel prices at the pumps.
Speaking in an interview on Rainbow Radio’s flagship current affairs programme, Nyankonton Mu Nsem, Mr Addea explained that major shifts in the global supply chain are driving the positive outlook. According to him, the imminent release of 100 million barrels of crude oil from strategic reserves by G7 nations, coupled with signals that Tehran is preparing to reopen the vital Strait of Hormuz, has largely neutralised recent market anxieties.
“The Iranian government appears to have realised that keeping the Strait of Hormuz closed offers no economic benefit, particularly as G7 countries roll out decisive measures to secure global fuel supplies,” Mr Addea stated. He further noted that the simultaneous easing of supply bottlenecks and the influx of reserves will significantly mitigate pressure on international oil trading.
Industry watchers remain optimistic that if these positive indicators hold firm on the world market, Ghanaian consumers will finally see a return to the stable and predictable fuel prices enjoyed in the past.
By: Rainbowradioonline.com/Ghana
