Accra: The government has allocated nearly GHS1 billion to alleviate the impact of rising international petroleum prices on diesel consumers, preventing the complete increase from being passed on to motorists, disclosed Godwin Edudzi Tameklo, the Chief Executive Officer of the National Petroleum Authority (NPA).
According to Ghana Web, Tameklo stated that without the government's intervention, diesel prices could currently reach approximately GHS28 per litre at the pump. During an appearance on Eyewitness News on Wednesday, September 16, 2026, Tameklo highlighted that the intervention was necessary due to the sharp rise in the international cost of diesel since February. He emphasized, "I need to point out that for the intervention from government, a litre of diesel should be selling within the region of GHS28 per litre."
He further detailed that the international price of diesel climbed from US$794 per metric tonne in February 2026 to US$1,519 per metric tonne, nearly doubling the product's cost. "A litre tonne of diesel, which used to cost US$794 as of February 2026, today is costing US$1,519 per litre tonne. That's almost twice the amount," he explained.
To counteract this spike, Tameklo revealed that the government had implemented a GHS2-per-litre intervention on diesel, reducing the immediate impact on consumers. This measure ensures that the cost at the pump remains lower than what it would have been if the full international price increase had been passed on to consumers. "We have done close to GHS1 billion by way of intervention to push the impact, which otherwise would have come directly to the consumers of petroleum products," he noted.
Using a typical purchase of 10 litres as an example, Tameklo illustrated that consumers effectively receive GHS20 in government support. "Today, if you go out to the pump and you buy 10 litres of diesel, what it means is that the Government of Ghana is directly putting GHS20 in your pockets," he said.
This intervention occurs as transport operators lobby for higher fares, citing escalating fuel costs as a primary reason for proposed fare adjustments. Tameklo urged consideration of the government's support when evaluating the actual fuel cost burden on private commercial transport operators.
Despite the current measures, Tameklo warned that international petroleum markets remain volatile, which could lead to further increases in crude oil and refined petroleum product prices affecting Ghana's domestic fuel market. This situation may place additional pressure on transport and logistics costs, as diesel is extensively used by commercial vehicles and businesses.
The government's intervention aims to moderate the transmission of international price shocks to domestic consumers, especially as global market conditions remain uncertain. The ongoing volatility in international petroleum prices means that the cost of maintaining the intervention and its impact on pump prices will be closely monitored by motorists, transport operators, and businesses in the upcoming pricing windows.