Ghana's President Nana Akufo-Addo said "intense efforts" were now being made to rehabilitate the refinery to help address soaring fuel prices. read moreNigeria's airlines threatened to suspend domestic flights due to soaring jet fuel costs before backtracking. The country subsidises gasoline at a high cost, but not diesel or jet fuel. Physical jet fuel prices hit record highs in April in Europe and the United States while stock levels fell to their lowest in two years at Europe's key ARA oil hub in the week to May 12. Russian diesel, fuel oil and other products were previously stored and re-blended in ARA (Amsterdam-Rotterdam-Antwerp) for transport to Africa, but Russian crude and products can now only be sold to European buyers in certain cases.

Source: The North Africa Journal June 01, 2022 11:31 UTC