Fuel Tax Slash, Bus Roll Out: How Ghana is shielding citizens from global oil crisis

President John Dramani Mahama has ordered immediate action to protect Ghanaians from escalating fuel prices, driven by ongoing geopolitical tensions in the Middle East that continue to disrupt global oil supply chains.

The decision followed a high-level Cabinet meeting held in Accra on Thursday, April 9, 2026, shortly after the President returned from an official trip to France.

The discussions centered on urgent interventions to ease the growing financial burden on households and businesses as petrol and diesel costs surge.

A key component of the government’s strategy is the review and possible temporary suspension of selected taxes and levies on petroleum products.

Ghana becomes first beneficiary of France's National Health Compact

Dr Cassiel Ato Forson, Minister for Finance, and Dr John Jinapor, Minister for Energy, have been tasked with engaging stakeholders in the petroleum sector to roll out measures aimed at lowering fuel prices in the next pricing window.

According to officials, the proposed relief measures will initially last four weeks, after which they will be reassessed based on developments in global oil markets particularly tensions involving Iran, Israel, and the United States.

The recent spike in fuel prices has been attributed to disruptions along the Strait of Hormuz, a critical passage for global crude oil transportation.

These disruptions have constrained supply and contributed to one of the sharpest increases in fuel prices recorded in Ghana in recent months.

As part of a broader response, the President has also instructed the Transport Ministry to accelerate the rollout of 100 buses under the Metro Mass Transit system on high-demand routes.

The initiative is expected to offer more affordable fares compared to private operators, providing relief to commuters facing rising transport costs.

In an effort to manage public spending, President Mahama further directed all ministers and senior government officials to strictly adhere to an existing ban on fuel allowances, reinforcing fiscal discipline during the current economic strain.

These interventions form part of a coordinated national strategy aimed at stabilising fuel prices and minimising their broader impact on the economy.

MRA/VPO

Ghana’s Rent Crisis: Ag Rent Commissioner details weak enforcements, rising costs