Godwin Edudzi Tamakloe, the Chief Executive Officer of the National Petroleum Authority (NPA), has said diesel could be selling at around GH¢28 per litre if the government had not intervened to cushion consumers.
According to the NPA CEO, the Mahama government had absorbed a significant portion of the increase to prevent the full cost from being passed on to consumers.
He disclosed that the government estimated that the interventions had so far amounted to close to GH¢1 billion.
Speaking on Eyewitness News on Wednesday, September 16, Godwin Edudzi Tamakloe stated, “I need to point out that for the intervention from government, a litre of diesel should be selling within the region of GHC28 per litre”.
“A litre tonne of diesel, which used to cost $794 as of February 2026, today is costing $1,519 per litre tonne. That’s almost twice the amount,” he said.
“We have done close to Ghc1 billion by way of intervention to push the impact, which otherwise would have come directly to the consumers of petroleum products,” he said.
He added, “Do you know that today, if you go out to the pump and you buy 10 litres of diesel, what it means is that the Government of Ghana is directly putting 20 Ghana cedis in your pockets?”
The NPA CEO comments come amid renewed pressure for higher transport fares; however, the government maintained a GH¢2-per-litre intervention on diesel as part of measures to cushion consumers.
Meanwhile, COPEC has announced that fuel prices are expected to rise, with petrol rising to an average of GH¢16.26 per litre, while diesel could sell at GH¢19.07 per litre from Wednesday, September 16.
COPEC, in a statement, projected a 4.24% increase in petrol prices from the current average of GH¢15.60 per litre.
They further disclosed that Diesel is expected to record a steeper 10.23% increase, rising from an average of GH¢17.30 to GH¢19.07 per litre.
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.”
It also identified external threats including “commodity price volatility, geopolitical tensions (including from the war in the Middle East), and trade disruptions.”
@ghnow_ Hon. Nii Commey has supported all 32 students who achieved Grade 6 in the BECE with a cash donation each, in recognition of their outstanding performance. #GHnow #fyp ♬ original sound – NDCMUSICHQ
@ghnow_ Beneficiaries go home with a mattress and chop box received from Hon. Nii Commey’s donation exercise in the Domeabra Obom Constituency. #GHnow #fyp ♬ original sound – King Paluta
