Accra, Ghana – President John Dramani Mahama has disclosed that Ghana currently holds approximately six weeks of petroleum reserves as escalating conflict in the Middle East continues to drive volatility in global oil prices.

The President made the revelation during a high-level engagement, highlighting the vulnerability of Ghana’s energy security amid ongoing disruptions in the Strait of Hormuz and broader regional instability.

“Our current petroleum reserves stand at about six weeks,” President Mahama stated, underscoring the need for strategic planning and diversification to cushion the country against external shocks.

The disclosure comes as oil prices have surged due to fears of supply disruptions caused by the intensifying conflict involving the United States, Israel, and Iran.

Ghana, as a net importer of petroleum products, remains highly exposed to global price fluctuations, which directly affect the pump prices of petrol, diesel, and liquefied petroleum gas (LPG).

The government has been working to strengthen energy security through various measures, including expanding domestic gas utilisation, accelerating renewable energy projects, and building strategic petroleum reserves. However, the current six-week buffer highlights the urgency of long-term solutions to reduce dependence on imported fuels.

President Mahama used the occasion to reiterate his administration’s commitment to energy sector reforms aimed at ensuring reliable and affordable power and fuel supply for Ghanaians, even as external geopolitical tensions continue to impact commodity markets worldwide.

Energy analysts have warned that prolonged instability in the Middle East could exert further upward pressure on global crude prices, potentially leading to higher pump prices and increased cost of living in import-dependent economies like Ghana.

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