The government has announced a temporary reduction in the regulatory margin on diesel, leading to a GH¢2.00 per litre cut in the price of the fuel for one month as part of measures to cushion Ghanaians against rising fuel costs and the increasing cost of living.
The directive, issued by President John Dramani Mahama and signed by the Minister for Government Communications and Spokesperson to the President, Felix Kwakye Ofosu, MP, follows a decision by Cabinet and builds on a similar intervention introduced in April 2026.
According to a statement released by the Presidency on Monday, August 3, 2026, the reduction will take effect from Tuesday, August 4, 2026, and will remain in force for one month unless the government decides to review the policy.
The Presidency said the intervention is aimed at protecting consumers from the immediate impact of rising fuel prices, preventing transport operators from increasing fares, reducing inflationary pressures, and limiting the effect of higher fuel costs on the prices of goods and services.
“This temporary intervention is intended to cushion consumers, prevent transport fare hikes, contain inflationary pressures, and mitigate the pass-through effect of higher fuel prices on the cost of living,” the statement said.
The government indicated that diesel plays a critical role in Ghana’s transport, industrial, and commercial sectors, making its pricing a key factor in the overall cost of doing business and the prices consumers ultimately pay for goods and services.
Officials believe that lowering the regulatory margin on diesel will provide immediate relief to commercial drivers, transport operators, businesses, and households that rely on diesel-powered vehicles, machinery, and generators.
The Presidency further assured Ghanaians that it remains committed to protecting the economy from external shocks and will continue to monitor developments in the global energy market.
According to the statement, additional policy measures could be introduced if international fuel market conditions warrant further intervention.
“The government will continue to monitor developments in the international energy market closely and take additional policy measures, where necessary, to protect the interests of the Ghanaian people and sustain economic recovery,” the statement added.
The latest intervention comes as the government seeks to balance economic recovery efforts with measures aimed at easing the financial burden on citizens amid fluctuations in global petroleum prices.
By 1960news.com
