ACCRA, Ghana – President John Dramani Mahama has directed a GH¢2.00 per litre reduction in the regulatory margin on diesel, effective Tuesday, August 4, 2026, to cushion consumers against rising fuel pump prices.
The directive was announced in an official statement on Monday, August 3, 2026, by the Minister for Government Communications and Spokesperson to the President, Felix Kwakye Ofosu.
One-Month Relief, Diesel Only
According to the statement, the decision follows a Cabinet directive to mitigate the pass-through effect of rising fuel costs on the cost of living.
The temporary relief will apply strictly to diesel for one month, unless reviewed by government. There is no corresponding subsidy or reduction for petrol.
“The intervention aims to prevent commercial transport fare hikes, contain mounting inflationary pressures, and provide immediate financial relief to businesses and households,” the release stated.
This marks the second time the government has intervened to buffer the public against elevated petroleum prices driven by geopolitical tensions in the Middle East and persistent pressure on the cedi.
Current Pump Prices Across OMCs
Retail fuel prices were adjusted upward during the first pricing window of August:
– Shell: Petrol – GH¢16.29/litre | Diesel – GH¢19.49/litre
– GOIL: Petrol – GH¢15.99/litre | Diesel – GH¢19.26/litre | Super XP 95 – GH¢17.30/litre
– Star Oil: Petrol – GH¢15.57/litre, up from GH¢14.53 | Diesel – GH¢18.97/litre, up from GH¢18.77
– TotalEnergies: Petrol – GH¢14.99/litre | Diesel – GH¢17.98/litre
Star Oil attributed the frequent adjustments to shifting international product costs, exchange rate fluctuations, and recent updates to the National Petroleum Authority’s [NPA] price floor.
*Government to Monitor Impact*
The steep hikes have hit road transport operators, freight logistics and businesses hard, raising concerns over potential increases in transport fares and prices of staple goods.
Government says it will closely monitor international energy market developments and may apply additional policy measures if necessary to protect citizens and support economic recovery.
The immediate impact of the GH¢2 diesel cut will however depend on how quickly Oil Marketing Companies reflect the reduction at the pumps from Tuesday.[OMCs]
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