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Fuel prices rose because refined products became more expensive during Iran conflict- NPA CEO reveals

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The Chief Executive Officer of the National Petroleum Authority (NPA), Edudzi Tameklo, has explained that fuel prices in Ghana increased even though global crude oil prices fell because the prices of refined petroleum products rose sharply during the recent conflict involving the United States, Israel and Iran.

According to him on Joy fm on August 3, 2026, Mr. Tameklo said public discussions on fuel pricing often focus only on crude oil prices and ignore other important factors that determine the pump price of petroleum products.

He explained that before the conflict, a metric tonne of diesel sold for about 794 US dollars, but after the hostilities intensified, the price rose to about 1,340 dollars per metric tonne.

“That same quantity of diesel is now selling for about 1,340 dollars per metric tonne. That is where the bigger challenge is,” he stated.

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According to him, crude oil is traded in barrels, while refined products such as diesel are traded in metric tonnes, and the two prices do not always move in the same direction.

Mr. Tameklo said fuel pricing in Ghana is determined mainly by three factors: the international price of refined products, the exchange rate, and taxes and margins.

He noted that taxes and margins have largely remained unchanged, while the exchange rate has been relatively stable in recent months, leaving the international price of refined products as the main source of the recent increase.

The NPA CEO said that when a ceasefire was announced in June, refined product prices fell from nearly 1,200 dollars to about 890 dollars per metric tonne, and pump prices in Ghana dropped to levels seen before the conflict.

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However, he said renewed military action caused prices to rise again.

“It is unfortunate that the bombing resumed, and that immediately pushed prices back up,” he said.

Mr. Tameklo acknowledged that crude oil prices did not rise by the same magnitude.

He noted that crude oil briefly rose to around 110 dollars per barrel during the height of the conflict and later declined to about 87 dollars per barrel after signs of easing tensions emerged.

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He explained that Ghana does not use the daily crude price when setting fuel prices.

Instead, authorities calculate the average international prices over the previous 14 days before announcing a new pricing window.

“If you quote today’s crude price, it will not reflect the decision that was taken based on the previous 14 days,” he explained.

Mr. Tameklo said the conflict increased the cost of moving petroleum products across international shipping routes.

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According to him, insurance premiums for cargoes have risen significantly because of heightened risks in the region, particularly around the Strait of Hormuz.

He added that recent diplomatic efforts involving Oman, Iran and other Gulf states had helped calm the market and contributed to the latest decline in crude oil prices.

The NPA CEO said understanding fuel prices requires a broader assessment of global refined product markets, shipping costs, insurance charges and exchange rate movements, not crude oil prices alone.

By: Jacob Aggrey

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Tain residents in shock as husband allegedly  kills wife, commits suicide

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Residents of Brodi, a farming community in the Tain District of the Bono Region, have been left in shock and mourning following the alleged murder of a 45-year-old woman by her husband, who later died by suicide. 

According to information gathered by the Ghana News Agency (GNA), the suspect, popularly known as Kwabena Jack, believed to be in his 50s, allegedly attacked and killed his wife, Abena Donkor, while the couple were working on their farm on Monday, August 11, 2026. 

Mr Kingsley Obah, Assembly Member for the Brodi Electoral Area, confirmed the incident to the GNA. 

He explained that after news of the woman’s  death spread through the community, residents launched a search for the suspect. His lifeless body was later discovered in a nearby bush on Tuesday, August 12, 2026. 

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Police have since conveyed both bodies to the Tain District Government Hospital, where they have been deposited for preservation and autopsy. 

Investigations into the incident are ongoing. -GNA 

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Chaos at Madina REDCO… Hawkers, preachers take over footbridge

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Hawkers taken over the pedestrian walkway on the footbridge

Hawkers and roaming preachers have taken over the five-metre high Madina REDCO footbridge and adjoining streets, making it increasingly difficult for pedestrians to use the facility intended to promote safe road crossing.

The traders have virtually turned sections of the footbridge into a marketplace, displaying their wares on the floor using jute sacks, plastic sheets and metal trays, while others have occupied both sides of the walkway with their merchandise.

Foodstuffs such as okro, garden eggs, pepper, onions, dried fish, smoked fish, grains, spices and other groceries are openly sold on the footbridge and along the roadside, forcing pedestrians to weave through the crowded path.

Clothing and fashion accessories including slippers, brassieres, panties, socks, bags and other household items are also displayed for sale, leaving only limited space for commuters to use.

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The situation is worsened by the presence of itinerant preachers who position themselves on the footbridge with public address systems to evangelise, drawing crowds to further obstruct pedestrian movement.

Head porters are also seen crossing the highway through the median while carrying heavy loads instead of using the footbridge, exposing themselves to the danger of being knocked down by speeding vehicles.

Also, portions of the footbridge are showing signs of deterioration. Several metal railings are rusted, bent and loosely secured with pieces of wire, raising concerns about the safety of users, especially children, the elderly and persons with disabilities.

Sections of the concrete surface are worn and chipped, while makeshift wooden supports attached to parts of the structure suggest temporary repairs.

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After a visit by The Spectator last week, it emerged that many commuters preferred crossing the busy Madina Highway instead of using the footbridge because of the congestion created by the trading and preaching activities.

For years, successive attempts by the police, the military and the La Nkwantanang Madina Municipal Assembly to address congestion around the REDCO and Zongo Junction enclave have yielded little success, with the area becoming notorious for roadside trading, indiscriminate parking and pedestrians refusing to use the footbridge.

A pedestrian, who gave her name only as Maame Yaa, described the situation as worrying, saying the footbridge, which was constructed to protect lives, had gradually lost its purpose because of the growing encroachment by traders and preachers.

According to her, many pedestrians were discouraged from using the facility because navigating through the crowded walkway had become difficult and uncomfortable.

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She appealed to the La Nkwantanang Madina Municipal Assembly and other relevant authorities to intensify enforcement to prevent unauthorised trading and other activities on the footbridge and ensure it served its intended purpose of promoting pedestrian safety.

However, during the visit, personnel of the Ghana National Fire Service (GNFS) were seen carrying out a decongestion exercise to remove hawkers from sections of the roadside around the footbridge as part of efforts to improve public safety and ease the movement of both pedestrians and motorists.

The exercise forms part of a pilot project initiated by the Municipal Fire Commander for Madina, Division Officer II (DO II) Abdul Salia, who assumed command of the Madina Municipal Fire Station three months ago.

Speaking in an interview with The Spectator, DO II  Abdulai Salia, who is also a long time resident of the community, said the month long project began on July 1 and ended on July 31, with 30 firefighters deployed daily to regulate traffic, clear hawkers from the streets and footbridge, and create access for emergency vehicles.

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Continued on page 12

By Esinam Jemima Kuatsinu

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