Mahama Moves to Shield Fuel Price Gains as Middle East Tensions Spike Crude Oil Prices
President John Mahama directs Ministries of Energy and Finance to safeguard Ghana’s fuel price gains as geopolitical tensions between Israel and Iran affect global oil prices. He also announces the launch of a long-awaited water project in Damongo.
Edem Latsu Nukafu eljourno 
SAVANNAH REGION, GHANA – President John Dramani Mahama has instructed the Ministries of Energy and Finance to urgently develop measures to protect Ghana’s recent progress in stabilizing petroleum product prices, as escalating tensions between Israel and Iran are beginning to impact global oil markets.
Speaking during his Thank You Tour of the Savannah Region, President Mahama acknowledged the country’s successful efforts to stabilize its economy but warned that external geopolitical developments, particularly in the Middle East, could undo these gains if not managed carefully.
“Despite the work we have done in stabilizing the economy, Ghana is not immune from the shocks of global events,” President Mahama said.
He highlighted the recent exchange of missiles between Israel and Iran, which has already caused a sharp increase in global crude oil prices — a situation that could directly affect fuel prices in Ghana.
"I've asked our Minister of Finance and Minister of Energy to keep a close eye on the development and model the possible impacts on our petroleum prices. We must be prepared with measures to protect the recent gains that we have made," he added.
The President’s comments come at a time when global oil prices are particularly volatile due to geopolitical tensions, and Ghana’s government is looking to balance maintaining economic stability while shielding citizens from price hikes.
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Relief for Damongo: Long-Delayed Water Project Gets Green Light
Shifting focus to local development, President Mahama also announced the green light for the long-awaited Damongo Water Supply System, a project that has been delayed for years but will now be funded by the European Union. The project aims to provide clean drinking water to the 8,000 residents of Damongo and surrounding communities by drawing water from the White Volta River at Yape.
“Access to clean water is not a luxury, it is a basic right,” Mahama emphasized during his speech.
The project, which has been plagued by delays in previous years, has now received full financing from the EU, and all necessary engineering designs have been completed. The new water supply system will serve not only Damongo but also communities along the pipeline, ensuring access to clean drinking water for thousands of people.
“The Damongo water supply system, which has been delayed for far too long, will come on stream… It will serve the 8,000 residents of Damongo, and all communities along the pipeline will also receive clean drinking water,” President Mahama assured the crowd.
These dual announcements — proactive measures to protect Ghana’s economic stability and a new development initiative — underscore the administration’s focus on ensuring national stability and improving the lives of citizens in both local and global contexts.
As Ghana faces the challenges of fluctuating global oil prices and local infrastructure needs, the government’s proactive stance on both economic safeguards and development projects reflects an administration determined to address pressing concerns in a volatile global environment.
