Mahama summons emergency cabinet over rising fuel prices

President John Dramani Mahama has called an emergency Cabinet meeting to address the sharp rise in fuel prices amid ongoing Middle East tensions.

Speaking on the second day of the Kwahu Business Forum 2026 on April 4, 2026, the President said the meeting aims to identify immediate and practical interventions to ease the burden on households and businesses.

“I have called for this emergency cabinet meeting to decide on specific measures we can take to cushion petroleum prices while we hope the conflict comes to an end. There are adjustments we can make, particularly in the margins, to help maintain relatively stable prices as we pray for the war to cease,” he said.

President Mahama emphasised that the government is committed to shielding Ghanaians from the full impact of the increases. “The government remains fully committed to easing the burden on citizens. The cabinet will examine various aspects of the fuel price build-up and consider interventions to provide relief,” he added.

Fuel prices in Ghana have surged sharply since April 1, with petrol rising about 15 percent to roughly GH¢13.30 per litre and diesel climbing nearly 19 percent to around GH¢17.10 per litre, according to the National Petroleum Authority. The increases have been largely driven by higher global crude oil prices and supply disruptions linked to the conflict in Iran and the wider Middle East.

Despite the pressure, President Mahama reassured Ghanaians about the resilience of the economy. “I can confidently tell you that the economy will not collapse because of the war in Iran,” he said.

He also commended transport operators for exercising restraint and holding fares steady despite the rising fuel costs. “I want to express my sincere gratitude to the transport unions for their patience and understanding. We did not anticipate this situation, but they have held off on increasing fares. I am confident they will continue to exercise restraint as we work together to improve the situation,” he said.

The recent fuel price adjustments have raised concerns over potential inflationary pressures, especially in transport and food prices, though relative stability of the cedi has mitigated the impact. Government officials are reportedly exploring measures such as adjustments to fuel margins and levies as part of broader efforts to stabilise domestic fuel costs while global conditions remain volatile.