Government has announced a temporary reduction in fuel prices as part of efforts to ease the burden on households, transport operators and businesses.
Beginning Thursday, April 16, diesel prices will be reduced by GH¢2.00 per litre, while petrol prices will drop by 36 pesewas per litre.
The intervention, approved by Cabinet, will remain in place for one month as authorities monitor developments on the global oil market.
According to the Ministry of Energy and Green Transition, the measure forms part of a broader strategy to stabilise the downstream petroleum sector and shield consumers from international price shocks.
Speaking on Citi FM, the Ministry’s spokesperson, Richmond Rockson, said government would absorb the cost of the intervention rather than pass it on to consumers in the future.
He stressed that unlike some previous interventions, consumers would not later be asked to repay the cost through new charges or levies.
“These are sacrifices that the government has made, is losing revenue in order for people to be okay,” he said.
Mr Rockson explained that the intervention would apply from the second pricing window of April until the second pricing window of May.
He added that government remained hopeful that changes in global oil prices over the coming weeks could further improve the situation.
The fuel price cuts are expected to provide some relief for commercial transport operators, businesses and households already dealing with rising living costs.
However, some policy analysts have cautioned that prolonged fuel subsidies or price interventions could place additional strain on government finances if global oil prices remain unstable.
