President John Dramani Mahama has ordered immediate actions to protect Ghanaians from rising fuel prices, driven by ongoing tensions in the Middle East that are disrupting oil supplies and increasing costs. This directive was issued after a Cabinet meeting held in Accra on Thursday, shortly after the President’s return from an official visit to France. The meeting focused on urgent measures to alleviate the financial burden on households and businesses due to significant increases in petrol and diesel prices.
A key aspect of the government’s response involves a plan to review and temporarily suspend certain taxes and levies on petroleum products. The Minister of Finance, Cassiel Ato Forson, and the Minister of Energy, John Jinapor, have been instructed to engage with industry stakeholders and implement strategies aimed at reducing pump prices during the next pricing window
Officials say the proposed relief package will run for an initial four-week period, after which it will be reassessed in line with developments in global oil markets, particularly the ongoing instability involving Iran, Israel and the United States. The spike in prices has been linked to disruptions along the Strait of Hormuz, a vital corridor for global crude oil shipments. The situation has tightened supply and triggered one of the steepest fuel price increases in Ghana in recent months.
As part of broader mitigation efforts, the President has also directed the Transport Ministry to fast-track the deployment of 100 Metro Mass Transit buses on busy routes. The buses are expected to offer lower fares than private operators, providing some relief to commuters grappling with rising transport costs.
In a further move to curb public spending, President Mahama instructed all ministers and senior government officials to strictly comply with an existing ban on fuel allowances, reinforcing efforts to cut expenditure during the current economic strain. The measures form part of what officials describe as a coordinated national response to stabilise fuel prices and limit the knock-on effects on inflation, particularly in transport and food sectors.
Despite the uncertainty, the President expressed confidence in the resilience of the economy, assuring that the country would withstand the external shocks driven by the geopolitical crisis.
Source: Kweku Zurek
