The government has announced a temporary reduction in the regulatory margin on diesel by GH¢2 per litre in a move aimed at easing the impact of rising fuel prices on consumers, transport operators and businesses.
The measure, directed by President John Dramani Mahama, takes effect from Tuesday, August 4, 2026, and will remain in force for one month unless reviewed by the government.
The announcement was contained in a statement issued by the Minister for Government Communications and Spokesperson to the President, Felix Kwakye Ofosu, who said the intervention was in response to Cabinet’s decision to reduce the effect of rising petroleum prices on the cost of living.
The relief package applies exclusively to diesel, with no reduction announced for petrol.
Government said the decision is intended to limit possible increases in transport fares, reduce pressure on businesses that depend heavily on diesel, and help contain inflationary effects associated with higher fuel costs.
The intervention comes amid a sharp increase in petroleum product prices, driven largely by rising international market prices, geopolitical tensions in the Middle East and continued pressure on the local currency.
Recent adjustments by Oil Marketing Companies (OMCs) have pushed diesel prices close to GH¢20 per litre at some fuel stations, while petrol prices have moved beyond GH¢15 per litre.
At the current pricing window, Shell is selling petrol at GH¢16.29 per litre and diesel at GH¢19.49, while GOIL prices petrol at GH¢15.99 and diesel at GH¢19.26.
Star Oil has adjusted its prices twice since the beginning of August, with petrol now selling at GH¢15.57 per litre, up from GH¢14.53, and diesel at GH¢18.97 per litre, compared with GH¢18.77 previously.
Meanwhile, TotalEnergies is selling petrol at GH¢14.99 per litre and diesel at GH¢17.98 per litre.
The frequent adjustments have raised concerns among transport operators, logistics companies and businesses over increased operational costs and possible increases in the prices of goods and services.
Government said it would continue monitoring developments in the global petroleum market and assess further measures if necessary to protect consumers and support economic recovery efforts.
However, the extent of relief to consumers will depend on how quickly Oil Marketing Companies reflect the GH¢2 reduction in diesel prices at the pumps.
