Fuel price cuts to cost gov't GH¢200m

The government is expected to forgo an estimated GH¢200 million in revenue following its decision to reduce fuel prices as part of efforts to cushion Ghanaians against rising living costs.

Spokesperson for the Ministry of Energy, Richmond Rockson, disclosed the figures while speaking on Eyewitness News on Wednesday, April 15, explaining that the intervention comes despite increasing petroleum prices on the international market.

He noted that global price hikes, largely driven by geopolitical tensions in the Middle East, have significantly impacted fuel costs, prompting the government to step in.

According to him, the decision by the President and Cabinet reflects a deliberate effort to prioritise the welfare of citizens, even at a financial cost to the state.

“This will lead to a net loss of about GH¢200 million that could have accrued to the government, but it is a necessary sacrifice to bring relief to the people of Ghana,” he stated.

Under the new measures, which take effect from April 16, 2026, the government will absorb GH¢2.00 per litre on diesel and GH¢0.36 per litre on petrol in the upcoming pricing window.

The temporary reduction is aimed at easing the financial burden on households, transport operators and businesses, particularly as fuel prices have trended upward in recent weeks.

The intervention, approved by Cabinet, will remain in place for one month, during which authorities will monitor developments on the global oil market and determine whether further adjustments are necessary.

In a statement issued by the Presidency on Wednesday, April 15, the government reaffirmed its commitment to maintaining price stability, protecting livelihoods and supporting Ghana’s economic recovery in the face of external pressures.