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The Chamber has stated that fuel prices at the pump could have dropped significantly if inefficiencies in Ghana’s petroleum delivery system, particularly the management of Laycan schedules, were addressed. Speaking on TV3’s Business Focus, Dr. Ofori highlighted that the Ghanaian cedi has remained relatively stable and international fuel prices have not experienced major surges. Yet, […]

Accra, Ghana – 23rd June 2025 – The Chamber of Bulk Oil Distributors (CBOD) expresses deep concern and disappointment over the persistent disruption of the Laycan import programme and calls on the Ministry of Energy and Green Transition to act swiftly to safeguard the integrity of Ghana’s fuel import system. The Laycan schedule, developed through

Crude Oil and Refined Products Market Review and Outlook  The global market price of crude has been on a downward trajectory since third Quarter three (Q3) 2024. Crude oil prices in the global market have declined by about 10.81% from Q1 2025 to Q2. Specifically, crude oil declined by about 9.36% since January 2025. Moreover,

Crude Oil and Refined Products Market Review and Outlook  The global market price of crude and refined petroleum products have been declining since the second window of February 2025. This has been largely attributed to the uncertainties in the global economy introduced by the US imposition of tariffs on some of its trade partners. The

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Crude Oil and Refined Products Market Review and Outlook  Crude prices on the international market have since the second window of February witnessed a sustained downward trajectory . This is largely attributed to the uncertainties in the global economy introduced by the US imposition of tariffs on some of its trade partners. According to CITAC

Crude Oil and Refined Products Market Review and Outlook  Although the first quarter of 2025 saw an average increase of 1.38% in global oil prices, recent weeks have seen a sharp decline due to global uncertainties driven by the ongoing tariff war between the US and China. The uncertainty in the US/China tariff trade talks

Crude Oil and Refined Products Market Review and Outlook  Global crude prices rose by an average of 1.38% in the first quarter of 2025 but have fallen significantly in recent weeks due to the global uncertainties arising from the current tariff war between the US and China. Crude prices peaked in February, with Brent spot

Crude Oil and Refined Products Market Review and Outlook Global crude prices rose by an average of about 1.38% in the first quarter of 2025 compared to the last quarter of 2024. Prices reached their highest point in February, with Brent spot prices soaring as high as $83 per barrel. CITAC Africa attributed this rise