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President John Dramani Mahama has directed the National Petroleum Authority (NPA) to take steps to reduce the regulatory margin on diesel by GH¢2 per litre to cushion consumers against rising fuel prices.
The Chief Executive Officer of the NPA, Godwin Edudzi Tameklo, announced that the directive will take effect from Tuesday, August 4, 2026.
According to him, the move is aimed at reducing the impact of recent fuel price increases on Ghanaians.
In a statement, Minister of Government Communications Felix Kwakye Ofosu explained that the intervention, which was approved by Cabinet, will remain in effect for one month.
He said the temporary reduction is expected to help prevent transport fare increases, control inflationary pressures, and reduce the impact of rising fuel prices on the cost of living.
The government also indicated that it will continue to monitor developments in the international energy market and introduce further measures if necessary to protect consumers and support economic recovery.
The announcement comes after some Oil Marketing Companies (OMCs) adjusted their fuel prices upwards at the beginning of the August pricing window.
Star Oil, for instance, revised its prices twice, with petrol selling at GH¢15.57 per litre and diesel at GH¢18.97 per litre.
Other OMCs, including GOIL, Shell, and TotalEnergies, have also announced varying prices for petrol and diesel at their outlets.
The government says the latest intervention forms part of efforts to reduce the burden of fuel price increases on households and businesses.
Story by Efua Nessa