A coalition of policy and energy think tanks has called on the government to reduce petroleum prices by GHC1.65. They argue that this reduction would provide essential relief to consumers who are struggling with rising living costs. The proposal, issued jointly by IMANI Africa, COPEC Ghana, INSTEPR, and IES, comes in response to a directive from President John Dramani Mahama. He instructed the Ministries of Energy and Finance to review the components of petroleum pricing and recommend potential reductions in taxes, margins, and levies.
In a statement dated Tuesday, April 14, 2026, the coalition of groups proposed that any reduction in petroleum prices should arise from a comprehensive adjustment of the pricing structure rather than temporary measures. They suggested a cumulative reduction of GHC 1.65 from the current petroleum price build-up.
The coalition emphasised that this reduction should remain in effect for a period of two months, rather than the four weeks proposed by the government. They argue that a longer duration would provide households and businesses with more stable relief during what they describe as “difficult and uncertain times,” while still allowing for a review based on global market conditions later on.
They further contend that the intervention would not significantly strain Ghana’s fiscal position, pointing to expected revenue gains from the country’s crude oil exports during the period. The proposal comes amid ongoing public concern over fuel prices, which have remained a key driver of transport and food inflation.
The coalition added that any short-term relief should be matched with broader reforms to the petroleum pricing system to prevent repeated price shocks, though its immediate focus remains on delivering relief to consumers.
Source: William Narh
