Ghana to Cut Fuel Taxes and Levies to Ease Rising Pump Prices Amid Global Energy Crisis

Ghana has announced a major policy shift aimed at easing pressure on consumers, as the government moves to remove several fuel taxes and levies along the supply chain. The decision comes as rising global energy costs continue to push pump prices higher across the country.

Government spokesperson Felix Kwakye Ofosu confirmed the development on Thursday while addressing reporters, saying the new measures are expected to take effect within a week after consultations with key stakeholders are concluded.

According to the government, the temporary tax suspension is designed to cushion citizens from the economic impact of ongoing global energy shocks linked to the Iran conflict, which has driven up international oil prices since late February. The intervention is expected to run initially for four weeks before being reviewed.

Ghana, which relies on imports for about 70% of its refined fuel needs, has already experienced significant increases in domestic fuel prices. The National Petroleum Authority recently adjusted pump prices upward, pushing petrol to about 13.30 cedis per litre and diesel to around 17.10 cedis per litre.

Meanwhile, while inflation in Ghana has shown signs of easing—dropping to 3.2% in March 2026, the lowest since 2021—the central bank continues to monitor risks from global volatility. Across the region, countries like Nigeria are also feeling the impact of rising fuel costs despite increased domestic refining capacity, highlighting the wider pressure on West African energy markets.

source: nairametrics