The Ghanaian government has announced a temporary one-month fuel price intervention, absorbing GH¢2.00 per litre on diesel and GH¢0.36 per litre on petrol, effective today, April 16, 2026.
The move, announced by Felix Kwakye Ofosu, Spokesperson to the President and Minister for Government Communications, aims to cushion Ghanaians from soaring global crude prices triggered by the ongoing Israel-US war against Iran.
The intervention follows an April 9 Cabinet meeting chaired by President John Dramani Mahama.
“Since the beginning of the conflict, there has been a significant restriction in supply through the Strait of Hormuz, driving up crude prices and insurance premiums,” Mr. Kwakye Ofosu explained.
Crude oil has surged from $63 per barrel on February 26 to a peak of $102, and was trading at $95 as of yesterday.
The government confirmed that the relief will remain in force for one month while officials monitor global markets.
Three-Pronged Strategy to Ease Burden
Beyond the pump price cut, Cabinet issued three major directives:
- Tax relief: The Ministries of Finance and Energy have been instructed to temporarily remove specific taxes and margins within the petroleum price build-up.
- More buses: The Transport Minister must fast-track deployment of 100 newly acquired Metro Mass Transit (MMT) buses on high-traffic corridors. A further 200 buses are expected in August and November.
- Lower fares: Both new and existing MMT buses will charge fares below private sector rates, especially during rush hours.
In a related directive, President Mahama reiterated his ban on fuel allowances and fuel allocations for all ministers, senior officials, and appointees.
“Government remains committed to maintaining price stability, protecting livelihoods, and supporting Ghana’s economic recovery in the face of external shocks,” the statement concluded.