The Africa Sustainable Energy Centre (ASEC) is urging the Government of Ghana to implement sweeping energy sector reforms to shield the country from recurring global oil shocks, even as recent tax cuts on fuel provide temporary relief.
In a press statement released on April 9, 2026, ASEC noted, the latest surge in fuel prices triggered by geopolitical tensions in the Middle East highlights the need for Ghana to move beyond reactive measures and adopt a more resilient, long-term energy strategy.
ASEC emphasised that, while immediate relief policies can ease pressure on households and businesses, they do not address the root causes of the country’s exposure to external oil market volatility.
As part of it’s recommendations, the Centre is urging government to expand strategic petroleum reserves, renegotiate royalty and revenue agreements with international oil companies, and strengthen force majeure provisions in energy contracts to better manage future crises.
The statement, signed by Ing. Justice Ohene-Akoto, Executive Director of ASEC, also called for stronger diplomatic engagement with African oil-producing countries such as Nigeria, the Republic of Congo and Algeria to secure more stable and preferential supply arrangements.
In the long term, ASEC advocates major investments in renewable energy, including solar and wind, alongside a gradual transition strategy that balances current reliance on fossil fuels with cleaner alternatives.
The Centre further highlighted the need to rehabilitate and expand the Tema Oil Refinery to reduce dependence on imported refined fuel.
Meanwhile, the Government of Ghana on April 9 2026, approved the removal of selected taxes and margins on petroleum products following an emergency Cabinet meeting at Jubilee House.
The move was aimed at cushioning consumers and the transport sector from rising fuel costs.
Cabinet directs Finance and Energy ministers to remove taxes and margins on fuel prices
