President Mahama Warns of Oil Price Surge Amid Israel-Iran Conflict.
President John Dramani Mahama has sounded the alarm on rising global oil prices triggered by escalating conflict between Israel and Iran, warning that the crisis could severely impact Ghana’s fuel economy and stall recent economic progress.
Damian Owusu 
President John Dramani Mahama has sounded the alarm on rising global oil prices triggered by escalating conflict between Israel and Iran, warning that the crisis could severely impact Ghana’s fuel economy and stall recent economic progress.
Speaking during a community engagement on his Thank-You Tour in the Savannah Region, President Mahama emphasized Ghana’s vulnerability to external shocks despite efforts to stabilize the economy. “We do not operate in a vacuum. Our gains can be quickly undermined by global crises such as this,” he said.
Global crude oil prices have surged sharply following military strikes and heightened hostilities between Tel Aviv and Tehran, with analysts forecasting further disruptions to the energy supply chain. Ghana, which relies heavily on fuel imports to meet domestic demand, could see rising transport costs, inflationary pressure, and increased public spending if the trend continues.
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President Mahama has directed the Ministries of Finance and Energy to closely monitor the geopolitical developments and model various economic impact scenarios. He urged them to explore preventive policy options to cushion citizens from future fuel price volatility.
In a bid to offset longer-term risks, the president also highlighted government plans to scale up local energy production and reduce import dependency. “We are working to insulate Ghana from these unpredictable global currents,” he assured the crowd.
In the same speech, Mahama announced the siting of a new public university in the Savannah Region, tying it to the broader national strategy to empower young people and support his administration’s Feed Ghana agricultural transformation programme.
