President John Dramani Mahama has directed a temporary reduction of GH¢2.00 per litre in the regulatory margin on diesel, effective Tuesday, 4 August 2026.
The measure, announced in a statement issued by the Presidency on Monday, will remain in force for one month unless reviewed earlier by the government. It follows a Cabinet decision and builds on a similar intervention successfully implemented in April 2026.
According to the statement signed by Felix Kwakye Ofosu, Spokesperson to the President and Minister for Government Communications, the reduction is designed to cushion consumers, prevent increases in transport fares, contain inflationary pressures, and limit the impact of higher fuel prices on the cost of living.
The government said it would continue to closely monitor developments in the international energy market and introduce further policy measures if necessary to protect the interests of Ghanaians and support ongoing economic recovery.
The directive applies specifically to the regulatory margin on diesel and is presented as a short-term relief measure amid global energy price fluctuations.
Prices of petroleum products recorded a sharp increase at fuel stations across the country, with Oil Marketing Companies (OMCs) adjusting their pump prices upwards from Saturday, August 1, 2026.
The latest increases, which will remain in effect until August 15 under Ghana’s bi-weekly fuel price review system, have pushed the cost of petrol and diesel significantly higher, adding further pressure on consumers and businesses.
The upward adjustment follows projections by the Chamber of Oil Marketing Companies (COMAC) that fuel prices would rise during the current pricing window due to higher global crude oil prices, increases in refined petroleum product prices and depreciation of the Ghana cedi against the US dollar.
Petrol prices hit GH¢16 per litre
Major fuel retailers have increased petrol prices to levels approaching GH¢16 per litre, with some stations selling the product above that threshold.
Shell and TotalEnergies are now selling petrol at GH¢16.29 per litre, while diesel has increased to GH¢19.49 per litre.
Star Oil has adjusted its petrol price to GH¢14.53 per litre, while diesel is now selling at GH¢18.77 per litre.
GOIL has also increased the price of petrol to GH¢15.99 per litre, with diesel selling at GH¢19.26 per litre.
At Dukes Petroleum, petrol is being sold at GH¢14.97 per litre, while diesel is priced at GH¢17.60 per litre.
IBM recorded one of the highest pump prices, selling petrol at GH¢15.99 per litre and diesel at GH¢19.20 per litre.
The increases represent another rise in fuel prices after previous adjustments driven by international market conditions and currency pressures.
