A coalition of policy think tanks, including IMANI Africa, the Chamber of Petroleum Consumers (COPEC), INSTEPR, and the Institute for Energy Security (IES), has proposed a GH¢1.65 reduction in the petroleum price build-up as immediate relief for Ghanaians facing high fuel costs.
The proposal follows a directive by President John Dramani Mahama for the Ministry of Energy and the Ministry of Finance to review taxes, margins, and levies within the petroleum pricing structure, to ease pressure on consumers amid prevailing economic challenges.
In a joint press statement issued on April 14, 2026, the groups suggested that the reduction should remain in effect for two months instead of the four weeks initially proposed by the government, after which the situation could be reassessed based on global market developments.
They argued that the intervention should not place excessive strain on the country’s fiscal position, noting expected windfalls from crude oil exports.
The coalition further recommended broader structural reforms, including a comprehensive review and possible removal of certain taxes and levies deemed burdensome, the establishment of a Strategic Reserve Fund to stabilise fuel supply during price shocks, and increased investment in the Tema Oil Refinery (TOR) to strengthen local refining capacity.
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