Government has confirmed it will intervene in fuel pricing effective Tuesday, August 4, 2026, to reduce rising prices resulting from the unrest between the US, Iran, and Israel.
It has announced it will absorb GH¢2 per litre of the cost of diesel to cushion consumers against rising pump prices, with no corresponding support for petrol.
Confirming the move on TV3’s News Central on Monday, August 3, 2026, Chief Executive of the National Petroleum Authority (NPA), Godwin Edudzi Tameklo, indicated that the subsidy will take effect “immediately tomorrow.”
It will be the second time government has stepped in to cushion consumers following fuel price increases linked to higher international petroleum prices occasioned by the Middle East tensions and pressure on the cedi.
The intervention comes as diesel prices approach GH¢20 per litre at some fuel stations, while petrol prices have crossed GH¢15 per litre at several outlets following upward adjustments by Oil Marketing Companies during the first pricing window of August.
The latest increases are raising operating costs for transport operators and businesses that depend heavily on road transport, with the higher fuel costs likely to put further pressure on transport fares, logistics expenses and the prices of goods and services.
Star Oil, for instance, has revised its fuel prices twice since the start of the first pricing window of August.
Petrol is currently selling at GH¢15.57 per litre, up from GH¢14.53 at the start of the pricing window. Diesel is selling at GH¢18.97 per litre, compared with GH¢18.77 at the start of the window.
The Oil Marketing Company says the revisions reflect changes in international petroleum product prices, the prevailing exchange rate and the latest adjustment to the National Petroleum Authority’s price floor.
At state-owned GOIL outlets, petrol is selling at GH¢15.99 per litre, while diesel is priced at GH¢19.26 per litre. Super XP 95 is selling at GH¢17.30 per litre.
At Shell outlets, petrol is selling at GH¢16.29 per litre, while diesel is priced at GH¢19.49.
At TotalEnergies outlets, petrol is selling at GH¢14.99 per litre, with diesel at GH¢17.98.
The upward adjustments are increasing fuel costs for motorists and commercial transport operators, while businesses that rely on road transportation face higher operating expenses.
For consumers, the key concern is the potential pass-through of higher fuel and logistics costs into transport fares and the prices of goods and services.
The effectiveness of the Government’s diesel intervention will therefore depend on how much of the cost relief is reflected at the pumps and how long the support is maintained.
