Former Member of Parliament for Tamale Central, Inusah Fuseini, has warned that escalating tensions in the Middle East could trigger a rise in global oil prices, even for countries like Ghana, that do not directly source crude through the conflict zone.

His comments come as tensions intensify following coordinated strikes by the United States and Israel against Iran, with Iran reportedly responding by targeting neighbouring countries hosting U.S. military bases.

Speaking on The Big Issue on Channel One TV, Inusah Fuseini cautioned that the ripple effects of the conflict are likely to be felt across the global energy market, warning that the situation may persist for some time.

According to him, the ongoing hostilities could disrupt global oil supply chains and push up prices internationally, a development that would ultimately affect countries like Ghana regardless of where the country’s petroleum is source.

We don’t source our oil through that route but because there is tension, it will affect the price. When it affects the price, it is not only the oil that is going through that way. It is international. So no matter where we source our oil, we are going to see price increases.

People are going to look for other sources so those in Europe who would have benefited from the shorter distance from Asia will now be looking to see whether they can get their oil from Africa. That is going to drive the price, he said.

He stressed that the evolving conflict signals a prolonged period of instability in global energy markets, warning that consumers around the world should brace for potential increases in fuel prices.