Duncan Amoah, the Executive Secretary of the Chamber of Petroleum Consumers (COPEC), has urged the Mahama government to consider reducing the price of petrol by between 30 and 40 pesewas per litre.
According to Duncan Amoah, the 30 and 40 pesewas cut per litre would provide relief to consumers.
The COPEC Executive Secretary recognised government’s recent intervention to reduce the impact of rising fuel prices, citing the GH¢2 per litre reduction in the regulatory margin on diesel, calling for a similar intervention for petrol consumers.
Speaking on Channel One Newsroom on Monday, August 31, Duncan Amoah stated, “I am asking if the government can also look at some 30 to 40 pesewas reduction for the price of petrol, because as we speak, petrol is 16, diesel is 17.
I do think that maybe some amnesty could also be extended to those who buy petrol such that they could also feel some relief from the government”.
Duncan Amoah’s call comes as petrol and diesel prices are projected to increase from September 1, 2026, following a rise in global crude oil and refined petroleum product prices.
Earlier, Chamber of Petroleum Consumers Ghana (COPEC) had announced that fuel prices at the pumps are expected to rise marginally from Tuesday, September 1, 2026.
According to COPEC, the projected increases are expected to affect petrol, diesel and liquefied petroleum gas (LPG).
They detailed that the adjustments are largely driven by movements in international petroleum product prices, despite a recent appreciation of the Ghana cedi against the US dollar.
COPEC, in its analysis, disclosed that global crude oil prices fell marginally from $90.41 to $89.30 per barrel during the current pricing window.
“The cedi also strengthened against the dollar, with the average interbank rate improving from GH¢11.800 to GH¢11.5166 per dollar.
That represents an appreciation of about 2.39%.
Despite these developments, COPEC says changes in the Free-On-Board (FOB) prices of refined petroleum products are expected to push pump prices higher.
Petrol is projected to sell at about GH¢16.21 per litre, representing an estimated 5% increase from the current mean pump price of GH¢15.43.
Diesel is also expected to rise to approximately GH¢17.61 per litre.
That would represent an estimated 2.58% increase over the current mean price of GH¢17.17 per litre.
LPG is similarly projected to record a marginal increase, with COPEC estimating a price of approximately GH¢14.19 per kilogramme”, a JoyNews report stated.
Meanwhile, the International Monetary Fund (IMF) has warned the Mahama government that its recent fuel subsidy could damage Ghana’s fiscal gains.
According to the IMF, the recent fuel subsidy measures must remain temporary and carefully targeted not to undermine Ghana’s fiscal gains.
The IMF warning was contained in its Staff Report submitted to the Fund’s Executive Board on July 27 ahead of Ghana’s Sixth Review under the Extended Credit Facility (ECF) programme.
The IMF Staff Report acknowledged Ghana’s improving macroeconomic outlook but warned that fuel subsidies should not become a permanent policy tool.
Parts of the report stated, “The recent fuel subsidy measures must be temporary and well targeted.”
“Ghana’s near-term growth and inflation outlook is favourable but subject to elevated downside risks.”
@ghnow_ Chairman of the Ghana Tanker Association laments the poor state of the Tema–VALCO to TOR road #GHnow #FixValcoKponeRoad #fyp ♬ original sound – GHnow
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