Energy Expert Samson Adjei has projected an increase in fuel prices by the end of the year, attributing it to heightened demand during the festive season.
The projection follows the current increase in fuel prices and an anticipated hike in the coming weeks.
Engaging the media ahead of the festive season , Mr. Adjei noted that as the year draws to a close, transportation demand rises as more people commute, which will push fuel prices up.
“There’s a lot of travel, holidays, and people move here and there. The mode of movement is basically by air or by car, and this requires them to use either petrol or diesel. So the demand goes high, and once demand is high, we also know that supply is already down. So prices are likely to go up. Yes, we should expect that fuel prices will go up,” he stated.
He further identified the availability of crude as the biggest challenge facing the industry, adding that the Crude Distillation Unit (CDU) had not been functioning since 2021, and the Residue Fluid Catalytic Cracker since 2019.
“The biggest challenge is the availability of crude. Once the unit has been revamped, the materials need to flow if it doesn’t come, then we will go back to how it was before, when it was not working, because we know the Crude Distillation Unit has not been functioning since 2021. So they have to put in a lot of effort. Once that has been done, then they’ll need the crude supply that’s why engaging with GNPC to supply them is a good thing. But it should not be a 90-day wonder. They should make sure that anytime they need it, GNPC will be there to provide the crude. Another challenge is that initially, GNPC was selling to them in dollars, but I think they’ve had a conversation with government and other private entities, and now sell it to them in cedis, so that they can also make their turnaround and sell it at a cheaper price,” he added.
Mr. Adjei’s comments come amid broader efforts to stabilise Ghana’s refining capacity, following the recommissioning of TOR’s refurbished Crude Distillation Unit in August 2026 after years of dormancy, as the refinery works to secure consistent indigenous crude supply from GNPC to reduce its reliance on imported crude oil.
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