An energy analyst has warned that importers may be forced to seek alternative supply routes as tensions in the Middle East threaten key shipping corridors, potentially driving up petroleum prices in Ghana,
The Executive Director of the Centre for Environmental Management and Sustainable Energy, Benjamin Nsiah, in an interview with 3business on Wednesday February 4 2026, noted that Ghana was unlikely to face an outright fuel shortage.
However, he cautioned that consumers should prepare for possible price increases if instability in the region persists.
“Any blockade along that corridor is likely to affect our supply lines. Importers will have to find new ways of accessing products beyond the Strait of Hormuz or outside the Middle East,” he said.
The Executive Director explained that importers may be compelled to rely more heavily on alternative suppliers in the Arab region or European markets if disruptions occur along critical Middle Eastern shipping routes.
However, he added that shifting supply channels would come at a cost.
“These markets come with higher premiums due to new transportation routes and increased insurance costs arising from geopolitical tensions. So, yes, we may be able to access the product, and it will be available locally, but prices are likely to rise in the coming days because of additional premiums and higher free-on-board (FOB) prices,” he said.
He further urged Ghanaians to prepare for possible increases in petroleum prices.
Benjamin Nisah also said, gas oil prices had surged significantly on the international market.
“This morning, I checked the Bloomberg Energy Market and saw that the price of gas oil had risen to about $1,000 per metric tonne, one of the highest levels in more than two years,” he noted.
By Coffie Mawuedem Noel
