The Executive Director of the Centre for Environmental Management and Sustainable Energy (CEMSE), Mr Benjamin Nsiah, has dismissed claims that the recent increase in fuel prices in Ghana is a direct result of tensions between Iran and the United States.

Speaking on Accra FM’s mid-day news on Monday, March 2, Mr Nsiah explained that the current increment by the Midstream and Downstream Petroleum Regulatory Authority (MPA) reflects earlier adjustments in international market prices, which occurred before the escalation of the Iran–US situation.

According to him, the rise in pump prices is purely based on international market dynamics and the pricing formula used by the MPA.

He noted that global fuel prices had already been trending upward prior to the geopolitical tensions, and this has influenced local pricing.

He indicated that any possible impact from the Iran–US conflict may only be reflected in Ghana after March 15, when new pricing assessments are conducted.

Even then, he cautioned that further increases could occur within two weeks if global market trends continue.

“If you check the international trading data for diesel and petrol, you will realise prices have been rising,” he stated.

“Based on projections, diesel could increase by as much as 20 percent, while petrol may go up by about 10 percent. However, this is a very volatile market, and prices could change at any time.”

Mr Nsiah warned that if the conflict persists and global fuel prices continue to surge, Ghanaians may experience slightly higher fuel costs between March and April.

Despite the projections, he stressed that the country’s situation will largely depend on the government’s response.

He pointed out that authorities have several policy tools at their disposal to cushion consumers from the full impact of price hikes.

Among the measures he mentioned were the possible removal of the GHS1 levy on fuel and the use of an auction policy to stabilise prices.

He explained that such interventions could help reduce the burden on consumers if global prices continue to rise.