The government has announced a temporary GH¢2.00 per litre reduction in the regulatory margin on diesel in a move aimed at cushioning consumers from rising fuel prices and easing pressure on the cost of living.
The intervention, directed by President John Dramani Mahama, will take effect from Tuesday, August 4, 2026, and remain in force for one month.
A statement issued by the Presidency Communications Office and signed by the Minister for Government Communications and Presidential Spokesperson, Felix Kwakye Ofosu, said the measure forms part of government’s response to rising international petroleum prices and their impact on the Ghanaian economy.
According to the statement, the temporary reduction in the regulatory margin is intended to cushion consumers, prevent transport fare increases, contain inflationary pressures and mitigate the impact of higher fuel prices on the cost of living.
The intervention applies exclusively to diesel, with no corresponding reduction announced for petrol.
It marks the second time the Mahama administration has stepped in to cushion consumers following increases in fuel prices linked to higher international petroleum prices, geopolitical tensions in the Middle East and continued pressure on the cedi.
The announcement comes at a time when diesel prices are approaching GH¢20 per litre at some filling stations, while petrol prices have exceeded GH¢15 per litre at several outlets following upward adjustments by Oil Marketing Companies (OMCs) during the first pricing window of August.
Star Oil, for instance, has revised its prices twice since the beginning of the pricing window. Petrol is currently selling at GH¢15.57 per litre, up from GH¢14.53, while diesel has increased to GH¢18.97 per litre from GH¢18.77.
The company attributed the adjustments to movements in international petroleum product prices, exchange rate fluctuations and the National Petroleum Authority’s latest price floor review.
At GOIL stations, petrol is currently selling at GH¢15.99 per litre and diesel at GH¢19.26 per litre, while Super XP95 is priced at GH¢17.30 per litre.
Shell outlets are selling petrol at GH¢16.29 per litre and diesel at GH¢19.49 per litre. At TotalEnergies stations, petrol is retailing at GH¢14.99 per litre, while diesel is selling at GH¢17.98 per litre.
The recent increases have raised operating costs for transport operators and businesses that rely heavily on road transportation, with concerns that the higher fuel costs could translate into increased transport fares, logistics expenses and higher prices for goods and services.
Government believes the temporary diesel price relief will help ease these pressures by reducing operating costs for commercial transport operators and businesses that depend on diesel-powered vehicles and machinery.
In the statement, the Presidency said government would continue to monitor developments in the international energy market and introduce additional policy measures where necessary to protect Ghanaians and sustain the country’s economic recovery.
The effectiveness of the intervention, however, will largely depend on how much of the relief is reflected at the pumps and whether international crude oil prices and exchange rate pressures remain elevated in the coming weeks.
