Gov’t Absorbs Fuel Taxes to Blunt Global Oil Shock, Eases Pressure on Consumers

In a swift response to rising global crude prices driven by escalating tensions in the Middle East, the Government of Ghana has announced the absorption of key fuel taxes in a bid to cushion consumers from mounting cost pressures.
The intervention will see the state take on GH¢2.00 per litre on diesel and GH¢0.36 per litre on petrol, resulting in a temporary reduction in ex-pump prices effective April 16, 2026.
Approved by Cabinet, the measure is expected to bring immediate relief to households, transport operators, and businesses that have been grappling with recent hikes in fuel prices.
According to a statement issued by the Presidency on Wednesday, April 15, the policy will be implemented in the next pricing window and remain in force for one month. Authorities say the period will allow for close monitoring of global oil market trends and inform any further policy adjustments.
The move comes against the backdrop of sustained volatility in international petroleum markets, which has significantly driven up domestic fuel prices in recent weeks.
Government reiterated its commitment to maintaining price stability, protecting livelihoods, and sustaining the country’s economic recovery in the face of ongoing external shocks.