Mahama orders GH¢2 cut in diesel price for one month

President John Dramani Mahama has ordered a GH¢2 reduction in diesel prices for one month to cushion consumers against rising fuel costs.

The directive, announced by the Presidency on Monday, August 3, instructs that the regulatory margin on diesel be reduced by GH¢2.00 per litre for one month, following a Cabinet decision and a similar intervention introduced in April 2026.

According to the statement signed by the Spokesperson to the President and Minister for Government Communications, Felix Kwakye Ofosu, the measure is aimed at easing the burden on consumers and preventing the impact of rising fuel prices from worsening living conditions.

“His Excellency the President has directed that in line with the decision of Cabinet and the successful intervention implemented in April 2026, the regulatory margin on diesel be reduced by GH¢2.00 per litre for one (1) month.”

The intervention takes effect from Tuesday, August 4, and will remain in force for one month unless the government decides to review it earlier.

The announcement comes hours after fuel prices increased across the country during the first pricing window of August 2026. Petrol prices rose to between GH¢14.53 and GH¢16.23 per litre, while diesel prices ranged from GH¢18.77 to GH¢19.35 per litre. RON 95 also increased to between GH¢17.77 and GH¢19.45 per litre following adjustments by the National Petroleum Authority.

Earlier on Monday, motorists were advised to prepare for further increases in pump prices as more Oil Marketing Companies were expected to revise their prices upward after Star Oil implemented another increase.

Star Oil had raised petrol prices from GH¢14.47 to GH¢14.53 per litre and diesel from GH¢17.67 to GH¢18.77 on August 1, with industry players attributing the adjustments to continued volatility in international crude oil and refined petroleum product prices.

Explaining the rationale behind the latest government intervention, the Presidency said, “This temporary intervention is intended to cushion consumers, prevent transport fare hikes, contain inflationary pressures, and mitigate the pass-through effect of higher fuel prices on the cost of living.”

The statement added that government would continue to monitor developments in the international energy market and introduce additional policy measures where necessary to protect Ghanaians and sustain the country’s economic recovery.