Fuel dealers bleeding cash as oil prices swing wildly – COMAC CEO
Fresh tensions between the United States and Iran, following the collapse of renewed peace efforts, are once again shaking global oil markets and exposing Ghana’s fuel industry to sharp price swings.
Chief Executive Officer of the Chamber of Oil Marketing Companies (COMAC), Dr Riverson Oppong, says the renewed uncertainty is making it increasingly difficult for fuel dealers to protect their revenues, especially when prices fall suddenly.”While hedging is often cited as a way to manage price risks in commodity markets, Dr Oppong said that option is far less practical for Ghana’s retail fuel business.
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