Steve Manteaw credits cedi stability for moderating Ghana's fuel prices

Strong cedi kept pump prices from exploding despite crude oil hitting one hundred nineteen dollars a barrel amid Middle East tensions.

Cedi Stability Credit

• Dr. Steve Manteaw praised the local currency for cushioning fuel costs against external shocks.
• Geopolitical conflict since February twenty eight disrupted the Strait of Hormuz supply route.
• Godwin Edudzi Tamakloe echoed that a weaker cedi would have driven prices much higher.
• Managers maintained stability for over thirteen months, anchoring pressure from the crisis.

Hypothetical Impact

• Tamakloe warned prices could reach twenty-three cedis per litre at fifteen to sixteen to the dollar.
• Without the firm exchange rate, crude volatility would have sent costs through the roof.
• Current performance prevented worse outcomes for consumers facing transport inflation.
• Analysts noted the currency helped moderate adjustments even as oil surged.