Middle East conflict: ACEP warns Ghana over possible fuel price hikes

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The Africa Centre for Energy Policy (ACEP) is urging government to strengthen Ghana's strategic petroleum reserves to protect the economy from potential shocks arising from escalating tensions in the Middle East.

The policy think tank warned that prolonged disruptions to global oil markets could reverse recent gains in inflation reduction and trigger increases in fuel prices if the conflict continues.

Speaking in an interview with Citi Business News, ACEP's Policy Lead for Petroleum and Conventional Energy, Kodzo Yaotse, said Ghana must take proactive measures to safeguard fuel supply amid growing concerns over global oil shipments through the Strait of Hormuz.

ACEP says building stronger energy resilience will be critical in reducing the impact of external shocks on consumers and businesses.

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