President John Dramani Mahama has hinted that his government is considering cuts to fuel taxes as part of efforts to cushion Ghanaian consumers from the impact of rising petroleum prices.
Addressing issues at the Second Annual Kwahu Business Forum and in subsequent discussions, President Mahama outlined that government is closely reviewing the fuel price structure – including taxes, levies and margins – to identify areas where relief can be provided to households and businesses grappling with higher costs at the pump.
The comments come amid a sharp rise in fuel prices in Ghana since early April, largely driven by escalating tensions in the Middle East and disruptions in global crude oil supply. Data from the National Petroleum Authority shows petrol has risen by about 15 per cent to around GH¢13.30 per litre, while diesel has increased by nearly 19 per cent in recent pricing windows.
To address these pressures, President Mahama has convened an emergency Cabinet meeting to explore practical interventions to stabilise fuel prices and ease the burden on consumers. He emphasised that the meeting will specifically examine the full build-up of fuel costs, including margins and taxes, to determine where adjustments can be made without undermining fiscal stability.
Transport unions have welcomed the prospect of a tax cut, with the Ghana Private Road Transport Union (GPRTU) saying it will delay any new fare adjustments until it sees the impact of potential government tax reductions reflected at the pump.
President Mahama has also sought to reassure the public that Ghana’s economy remains resilient despite global shocks, noting that sufficient petroleum reserves and responsive policy measures are in place to protect the nation against immediate shortages and prolonged price instability.
