Browsing: crude oil price

By Adnan Adams Mohammed Ghanaian consumers are bracing for a significant increase in fuel prices starting Wednesday, April 1, after…

Fuel prices at the pumps have started coming down although slower than expectations of some downstream petroleum sector think-tanks.

As at Tuesday evening, Brent crude was trading at about $137.64 according to Refinitiv. But, addressing a potential ban on Russian oil, Goldman’s commodities team wrote overnight that Europe’s dependence on Russian oil imports, of c. 4.3 mb/d of which 0.8 mb/d comes from pipeline, suggests that such a coordinated response will likely take time, leaving the possibility for only a US ban in short order. 

A finance and energy analyst has assured Ghanaians to lose no sleep as the fallout from the Ukraine invasion will have no immediate effect on prices of our petroleum products. Rather, he advised the managers of the economy and the forex market regulators to put in measures to control the escalating exchange rate as witnessed in the past few weeks.