President John Dramani Mahama has directed a GH¢2.00 per litre reduction in the regulatory margin on diesel to cushion consumers against rising fuel prices, with the measure taking effect from Tuesday, August 4, 2026.
The directive was announced in a statement issued on Monday by the Minister for Government Communications and Presidential Spokesperson, Felix Kwakye Ofosu, who said the decision followed a Cabinet directive aimed at reducing the impact of increasing fuel prices on the cost of living.
According to the statement, the temporary intervention will apply only to diesel for an initial period of one month, subject to review. No reduction has been announced for petrol.
The government said the measure is intended to help prevent increases in commercial transport fares, contain inflationary pressures and provide immediate relief to businesses and households affected by rising fuel costs.
This is the second time the Mahama administration has intervened to cushion consumers from escalating petroleum prices, which have been driven by geopolitical tensions in the Middle East and continued pressure on the cedi.
The announcement comes after several Oil Marketing Companies (OMCs) increased pump prices during the first pricing window of August.
At Shell, petrol is selling at GH¢16.29 per litre and diesel at GH¢19.49. GOIL is selling petrol at GH¢15.99 per litre, diesel at GH¢19.26, 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 has increased from GH¢18.77 to GH¢18.97 per litre.
At TotalEnergies, petrol is priced at GH¢14.99 per litre, with diesel selling at GH¢17.98 per litre.
Star Oil attributed the upward adjustments to changes in international petroleum prices, exchange rate movements and recent revisions to the National Petroleum Authority’s pricing framework.
The government noted that the recent fuel price increases have placed additional pressure on transport operators, businesses and households, raising concerns about higher transport fares and the cost of goods and services.
It assured the public that developments in the global energy market would continue to be monitored closely and that further interventions could be introduced if necessary to support economic recovery and protect consumers. The effectiveness of the latest measure will depend on how quickly Oil Marketing Companies adjust their pump prices to reflect the GH¢2.00 diesel relief.
Source: citinews
