The government has spent nearly GH¢1 billion to cushion diesel consumers against the sharp rise in international petroleum prices, preventing the full increase from being passed on to motorists, the Chief Executive Officer of the National Petroleum Authority (NPA), Godwin Edudzi Tamakloe, has disclosed.
He said without the government’s intervention, diesel could currently be selling at about GH¢28 per litre at the pump.
Speaking on Eyewitness News on Wednesday, September 16, 2026, Mr Tamakloe said the intervention had become necessary following a sharp increase in the international cost of diesel since February.
“I need to point out that for the intervention from government, a litre of diesel should be selling within the region of GH¢28 per litre,” he said.
According to him, the international price of diesel increased from US$794 per metric tonne in February 2026 to US$1,519 per metric tonne, representing almost a doubling in the cost of the product.
“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 said.
GH¢2-per-litre intervention
Mr Tamakloe said government had absorbed part of the increase through a GH¢2-per-litre intervention on diesel, thereby reducing the immediate impact on consumers.
He explained that the support effectively lowers the cost paid at the pump compared with what would have prevailed if the entire international price increase had been transferred to consumers.
“We have done close to GH¢1 billion by way of intervention to push the impact, which otherwise would have come directly to the consumers of petroleum products,” he said.
Using a typical purchase of 10 litres as an illustration, the NPA CEO said consumers were effectively receiving GH¢20 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 GH¢20 in your pockets,” he said.
The intervention comes at a time when transport operators are pushing for higher fares, with rising fuel costs cited among the factors behind the proposed adjustments.
Mr Tamakloe said the government’s support should be considered when assessing the actual fuel cost burden on private commercial transport operators.
Global market remains volatile
The NPA CEO warned that international petroleum markets remained volatile, meaning further increases in crude oil and refined petroleum product prices could continue to feed into Ghana’s domestic fuel market.
The situation could place additional pressure on transport and logistics costs, as diesel is widely used by commercial vehicles and businesses.
He said the government’s intervention was aimed at moderating the transmission of international price shocks to domestic consumers while global market conditions remained uncertain.
The continued volatility in international petroleum prices means the cost of maintaining the intervention and its impact on pump prices will remain closely watched by motorists, transport operators and businesses in the coming pricing windows.
Source: businesspostonline
