Cabinet orders fuel price cuts

The government has ordered immediate steps to cut fuel prices through tax removals, with changes expected to take effect in the next pricing window.

Government Communications Minister, Felix Kwakye Ofosu, announced the directive following an emergency Cabinet meeting on Thursday, stating that the Finance and Energy ministers have been tasked to act swiftly to ease the burden on consumers.

He explained that the intervention, which involves removing selected taxes and margins on petroleum products, will run for an initial four-week period before being reviewed.

“This is supposed to be done as soon as possible, effective the next pricing window,” he said.

The decision comes amid rising global tensions involving the United States, Israel and Iran, which escalated sharply in late February 2026.

The conflict has disrupted global oil supply chains, particularly following the closure of the Strait of Hormuz, a vital corridor for a significant share of the world’s crude exports.

This disruption pushed international crude oil prices above $100 per barrel, increasing import costs for countries such as Ghana.

In response, the National Petroleum Authority adjusted its price benchmarks to reflect higher landing costs, resulting in notable increases at fuel pumps nationwide.

Beyond the fuel price intervention, Cabinet also directed the Transport Minister to fast-track the deployment of newly acquired MetroMass buses to ease commuting challenges.

Kwakye Ofosu indicated that 100 buses are already in the country, with additional batches expected later in the year to bring the total to 300. “The transport minister has been instructed to ensure expedited deployment of these buses in high traffic corridors,” he said.

He added that MetroMass fares must remain lower than those charged by private operators to provide relief, particularly during peak hours.

In a related directive, President John Dramani Mahama has reminded ministers and senior government officials to strictly comply with the ban on fuel allowances and allocations.

“These measures are aimed at cushioning Ghanaians,” Kwakye Ofosu stated, outlining the government’s effort to stabilise fuel and transport costs in the short term.