Oil marketing companies in Ghana have accused bulk fuel distributors of raising petroleum prices prematurely, warning that the ongoing conflict in the Middle East should not yet be affecting fuel costs on the local market.

The Chief Executive Officer of the Chamber of Oil Marketing Companies (COMAC), Riverson Oppong, said the petroleum products currently being sold in Ghana were imported before the conflict began and therefore should not reflect any war-related price increases.

Speaking during an interview on Citi FM on March 9, 2026, Dr Oppong explained that the industry’s pricing structure means any impact from the conflict should only appear in the next pricing window.

Concerns over supplier pricing

Dr Oppong said the chamber had received complaints from several members about sharp increases in the prices quoted by Bulk Distribution Companies (BDCs) during the current selling period.

“In all this, we do have a pass-through cost, no doubt. Whatever price we buy from the BDCs, we will surely sell it at the pumps,” he said.

He noted that Ghana’s petroleum pricing system operates on a bi-weekly cycle, with the current pricing window running from March 1 to March 15.

According to him, the products currently being sold were priced before the Middle East conflict escalated and therefore should not yet reflect higher global crude oil prices.

“For this window from March 1 to the 15th, the products had been priced prior to entering this particular bi-weekly window. Even if there should be any effect of pricing, it should take effect from the 15th of March,” he said.

Dr Oppong described the reported price increases by some distributors as inconsistent with the country’s pricing policy.

“This morning I have some of my members complaining that seven is selling at ten,” he said, referring to significant price jumps quoted by suppliers.

NPA begins industry engagement

The COMAC chief warned that artificial price increases at the wholesale level could force oil marketing companies to raise pump prices earlier than expected.

He added that the National Petroleum Authority (NPA) had already begun engaging stakeholders within the petroleum sector to address the issue.

Dr Oppong commended the regulator for acting quickly and urged authorities to prevent any attempt to exploit global tensions to raise domestic fuel prices.

“That artificial increase or professional selling by the BDCs is what we are discussing now because it is not organic. It is against the pricing policy we have in this country,” he said.

Fuel supply remains stable

Meanwhile, an energy analyst at the Ministry of Energy and Green Transition, Yussif Sulemana, said Ghana is not facing an immediate fuel supply shortage despite rising tensions in the global oil market.

He disclosed that the country currently has about five to six weeks of petroleum product stocks available nationwide, with additional shipments expected to increase supply levels.

“If these ships are discharged, we can have maybe like 10 weeks,” he said.

Government monitoring global oil prices

Global crude oil prices have recently crossed the 100-dollar mark, raising concerns about possible increases in domestic fuel prices.

Dr Sulemana said the government is closely monitoring global developments and could adopt several policy responses if price pressures intensify.

These options include allowing market forces to determine fuel prices, introducing subsidies to cushion consumers, or strengthening local refining capacity through facilities such as the Tema Oil Refinery.

He added that the government is also working to expand storage infrastructure and improve the integration between Ghana’s crude production and the domestic fuel supply chain.

For now, he said the immediate focus remains on maintaining stable fuel supplies while managing the risk of rising prices.