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President John Dramani Mahama has sought to reassure Ghanaians that there is no immediate threat of a fuel shortage despite the ongoing conflict in Iran. He confirmed that Ghana has enough petroleum reserves to last for six weeks.
Speaking at the 2026 Kwahu Business Forum in Mpraeso, Eastern Region, President Mahama emphasized that the country is not at risk of running out of fuel and that the government is actively working to secure additional supplies.
He urged the public to remain calm, noting that the government is taking steps to mitigate the effects of the global crisis.
“As we’ve always said, external shocks will come, and while we cannot always predict them, we must ensure our economy is resilient enough to withstand such events,” he stated. “Although Iran and Israel are in conflict, our economy has proven to be remarkably resilient.”
The President further assured that Ghana has six months of export cover and six weeks of petroleum stock, which he said ensures the country will not face a shortage of fuel. “Even as we use the reserve stock, we are replenishing it,” he added.
Addressing the rising fuel prices, President Mahama revealed that he has convened an emergency cabinet meeting to explore measures to alleviate the pressure on citizens. “I’ve called for this emergency cabinet meeting to look at specific steps we can take to cushion petroleum prices while we hope for the end of the conflict,” he explained. “There are adjustments we can make, particularly in the margins, to help stabilize prices as we pray for peace.”
The President reiterated the government’s commitment to easing the financial burden on citizens and indicated that the cabinet would examine the factors driving fuel price hikes and consider potential interventions.
Furthermore, President Mahama reassured the nation that his administration has implemented strategies to strengthen the economy, ensuring it can weather external shocks such as the ongoing Middle East conflict. “I can confidently assure you that the economy will not collapse due to the war in Iran,” he emphasized.
Fuel prices in Ghana saw a significant rise on April 1, 2026, following the escalation of the Iran conflict, which has driven global crude oil prices higher. According to the National Petroleum Authority (NPA), petrol prices increased by about 15%, reaching approximately GH¢13.30 per litre, while diesel prices surged by around 19%, reaching GH¢17.10 per litre for the April 1–15 pricing window. This marks one of the steepest price hikes in recent months, largely due to international factors such as rising global oil prices and supply disruptions in the Middle East.
While the relatively stable Ghanaian cedi has helped mitigate some of the impact, the price increases have raised concerns about higher transportation costs and inflation. The government is currently exploring options such as reducing fuel margins and levies to help ease the burden on consumers.
Story by Efua Nessa
Source :Loco tv