Back to Latest Briefings
March 31, 2026
AI-Enhanced
US gas price tops $4 for first time since 2022
Money
Policy
Growth
Key Points
- Gas prices in the US have topped $4 a gallon for the first time in nearly four years, reaching $4.02 for regular gasoline and $5.45 for diesel.
- The primary cause is the ongoing Iran war and the effective closure of the Strait of Hormuz, which has disrupted energy production and transportation.
- Crude oil prices have surged, impacting both gasoline and diesel, with diesel's increase expected to drive up food costs.
- The price hikes are not limited to the US, with significant increases seen in the UK and some countries like Sri Lanka and Slovenia implementing fuel rationing.
- Ratings agency Moody's warns of a potentially larger impact on household budgets compared to previous price surges due to a weaker job market and wage growth.
Why This Matters
As a net importer of refined petroleum products, Ghana is highly susceptible to global oil price fluctuations. Surging international fuel costs will inevitably lead to higher pump prices within Ghana, exacerbating inflation, increasing transportation costs for goods and services, and placing significant strain on household budgets and the national economy.
Read Full Article
View original sourceRelated Articles
July 9, 2026
Eastern Corridor Road to undergo full asphalt reconstruction, not patch repairs – Roads Minister
- The Minister for Roads and Highways announced a full reconstruction of sections of the Eastern Corridor Road.
- The government will now use asphalt pavement instead of continuing with temporary patch repairs on the existing surface-dressed road.
- This decision follows technical assessments revealing the corridor has exceeded its design life and requires a more permanent solution.
- The reconstruction involves replacing the road base and applying a stronger asphalt surface to ensure lasting value and durability.
- The initiative aims to improve road safety, strengthen connectivity, reduce maintenance costs, and support economic activities along the corridor.
July 9, 2026
Ibrahim Mahama to pay hospital bills of Ghana’s tallest man battling gigantism
- Businessman Ibrahim Mahama has pledged to fully cover the medical expenses of Abdul-Samed Sulemana, known as Awuche, Ghana's tallest man.
- Awuche's health deteriorated due to gigantism complications, leading to a referral to Tamale Teaching Hospital.
- Doctors at TTH recommended amputation of Awuche's left leg due to a severe infection.
- Ibrahim Mahama's aide confirmed the commitment, assuring coverage of all medical costs and surgery.
- Awuche has safely arrived at Tamale Teaching Hospital and has commenced the necessary medical procedures.
July 9, 2026
75 Bank staff dismissed as fraud cases surge 48% – Bank of Ghana report
- Fraud cases in Ghana's financial sector surged by 48% in 2025, reaching 24,778, according to the Bank of Ghana's report.
- This increase was predominantly driven by the Payment Service Providers (PSPs) sector, which saw a 98% rise in incidents and a 95% increase in value at risk.
- While banks and Specialised Deposit-Taking Institutions (SDIs) reduced incident numbers, their value at risk increased due to specific issues like cash suppression and forgery.
- The total value at risk across the financial sector marginally rose from GH¢99 million in 2024 to GH¢101 million in 2025.
- The Bank of Ghana calls for unified efforts from all stakeholders, enhanced regulatory frameworks, and improved supervision to combat evolving fraud risks in the increasingly complex financial landscape.