CSOs Recommend GH¢1.65 Fuel Price Cut and Long-Term Petroleum Sector Reforms

A coalition of policy think tanks, including IMANI Africa, Chamber of Petroleum Consumers (COPEC), INSTEPR, and Institute for Energy Security, has proposed a GH¢1.65 reduction in the petroleum price build-up to provide immediate relief to consumers facing high fuel costs.

The recommendation comes after John Dramani Mahama directed the Ministries of Energy and Finance to review taxes, margins, and levies within the petroleum pricing structure to ease the burden on Ghanaians amid economic pressures.

In a joint statement issued on April 14, 2026, the groups suggested that the proposed reduction should remain in place for two months, rather than the four weeks initially proposed by government, before reassessing the situation based on global oil market trends.

They argued that the temporary measure would not significantly strain the country’s finances, citing anticipated windfalls from crude oil exports.

Beyond the immediate relief, the coalition also proposed long-term structural reforms. These include reviewing and potentially removing certain taxes and levies considered excessive, creating a Strategic Reserve Fund to cushion against fuel price shocks, and increasing investment in the Tema Oil Refinery to boost local refining capacity.