Political analyst and senior lecturer at the University of Cape Coast, Jonathan Asante Otchere, has warned that rising tensions in the Middle East could have serious consequences for Ghana’s fuel sector if the government fails to put the right economic measures in place.

Sharing his thoughts on the matter on Metro TV’s Good Morning Ghana on Monday, March 9, 2026, where he mentioned the potential impact of the conflict involving the United States-Israel and Iran on the country’s economy.

According to him, rising tensions could drive international oil prices higher, which would affect Ghana even though the country does not import most of its oil directly from Russia.

He cautioned that a new global crisis may be emerging as geopolitical tensions in the Middle East increase and threaten to disrupt energy markets.

He explained that because oil is traded on the global market, any increase in international prices would still influence fuel costs in Ghana.

Iran war threatens prolonged impact on energy markets as oil prices rise

“Ghana exports crude oil but also imports refined petroleum products. As a result, higher global prices could increase revenue from exports while also raising the cost of imported fuel,” he explained.

“The overall impact would depend mainly on two factors, the price of oil on the international market and the strength of the Ghanaian cedi,” he added.

He warned that if the cedi weakens while global oil prices continue to rise, the effect on consumers could be severe.

However, if the currency remains stable and global prices moderate, the impact may be manageable.

Otchere stressed that the key challenge for the government is to protect ordinary citizens from the effects of global economic shocks.

He added that keeping inflation under control, stabilizing the cedi and reducing the impact of rising fuel prices would rank among the most significant achievements of the current administration if successfully managed.

SO/VPO