Fuel pricing norm broken as market turns ‘radically volatile’ – COMAC CEO

Going to spot pricing daily changes is that an option that we want to go, or that two weeks window…” He said the cost of importing fuel remains elevated despite the drop in crude oil prices because traders continue to face high premiums and rising logistics costs.

Riverson Oppong The CEO of the Chamber of Oil Marketing Companies (COMAC), Dr Riverson Oppong, says Ghana’s fuel market has entered an unusually volatile phase, forcing oil marketing companies (OMCs) to respond in ways rarely seen under the country’s pricing system.

Speaking on JoyNews’ PM Express Business Edition on Thursday, Dr Oppong said recent developments in the global oil market, triggered by the conflict involving the United States and Iran, have disrupted the normal fuel pricing pattern.