With fuel prices set for another upward jump, concerns are mounting over the impact on household budgets and the broader cost of living. The Chamber of Petroleum Consumers (COPEC) is warning that without structural reforms to manage persistent price volatility, consumers will continue to bear the brunt of global market shocks.
COPEC’s latest projections show petrol prices could rise 3.38%, while diesel may surge by nearly 10%, raising fears of another wave of transport fare hikes and increased production costs for businesses already struggling with inflationary pressures.
Against this backdrop, the organisation is renewing its call for the government to establish a Special Petroleum Fund—a long-term buffer designed to soften the blow of international price swings. COPEC argues that such a fund would allow Ghana to purchase and store petroleum products when global prices dip, creating a stockpile that could be released to the market during periods of sharp increases.
According to Paul Ofori, COPEC’s Head of Research and Training, the absence of a cushioning mechanism continues to expose consumers to relentless instability at the pumps.
“Every price hike translates into higher transport fares, increased cost of goods, and shrinking household incomes,” he noted in an interview with Citi News on Sunday, November 16, 2025. “A stabilisation fund would give the government the flexibility to intervene when global conditions become unfavourable.”
Despite several proposals submitted over the years, Ofori says the government has yet to adopt any form of strategic stockpiling system—leaving motorists, traders, and small businesses vulnerable each time crude oil prices climb on the world market.
Analysts say that with Ghana’s economy still recovering from inflationary shocks, a mechanism to cushion fuel prices could become increasingly critical for stabilising everyday living costs.
