‘There’s a lot of attention on diesel at the moment’ – NPA explains supply pressures, impact on prices
Diesel supply is under pressure as disruptions to Russian production force countries to seek emergency supplies, the National Petroleum Authority (NPA) has said.
The National Petroleum Authority (NPA) has highlighted supply pressures affecting diesel prices, attributing the issue to disruptions in Russian production. Abass Tasunti, the NPA's Director of Economic Regulation and Planning, emphasized the scramble for diesel, leading to emergency supply measures and the release of strategic reserves.
Russian production disruptions and attacks on refineries have caused a 30% reduction in diesel output. In response, European countries have released about 42 million barrels of diesel from strategic reserves over three months, with France and Spain contributing significantly. However, the situation remains uncertain due to ongoing attacks on Russian refineries.
This supply crisis has also impacted Ghana's liquefied petroleum gas (LPG) prices, which are expected to fall despite international price increases due to the country's LPG tender program securing imports for one month.
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