President John Dramani Mahama has directed a temporary GH¢2.00 per litre reduction in the regulatory margin on diesel to cushion consumers against rising fuel prices, effective Tuesday, August 4, 2026.
The directive was announced in a statement issued on Monday by Mr Felix Kwakye Ofosu, Minister for Government Communications and Presidential Spokesperson.
It said the measure was in line with Cabinet’s decision to lessen the impact of increasing fuel costs on the cost of living.
The statement explained that the temporary relief would apply only to diesel for an initial period of one month, subject to review by the Government. It noted that there would be no corresponding reduction or subsidy on petrol.
According to the Government, the intervention is intended to prevent increases in commercial transport fares, contain inflationary pressures and provide immediate relief to businesses and households.
The statement said the latest intervention marked the second time the Government had acted to cushion the public against elevated petroleum prices driven by geopolitical tensions in the Middle East and sustained pressure on the cedi.
The directive comes after oil marketing companies adjusted pump prices upward during the first pricing window of August.
Shell is selling petrol at GH¢16.29 per litre and diesel at GH¢19.49 per litre.
GOIL is retailing petrol at GH¢15.99 per litre, diesel at GH¢19.26 per litre and Super XP 95 at GH¢17.30 per litre.
Star Oil, which has adjusted its prices twice since the beginning of August, is selling petrol at GH¢15.57 per litre, up from GH¢14.53, while diesel is retailing at GH¢18.97 per litre, up from GH¢18.77.
At TotalEnergies, petrol is selling at GH¢14.99 per litre, with diesel priced at GH¢17.98 per litre.
Star Oil attributed the frequent price adjustments to changes in international petroleum product prices, exchange rate movements and recent revisions to the National Petroleum Authority’s price floor.
The recent increases in fuel prices have placed additional pressure on road transport operators, freight and logistics businesses, and other commercial enterprises, raising concerns over higher transport fares and the cost of goods.
The Government said it would continue to monitor developments in the global energy market and introduce additional policy measures where necessary to protect consumers and sustain the country’s economic recovery.
It said the effectiveness of the latest intervention would depend on how quickly oil marketing companies adjusted their pump prices to reflect the GH¢2.00 per litre reduction in diesel prices from Tuesday.
