COPEC Urges Government to Create Petroleum Reserve Fund to Stabilize Fuel Prices- Ghana

The Chamber of Petroleum Consumers, Ghana (COPEC), has appealed to the government to establish a special petroleum reserve fund aimed at stabilising fuel prices and shielding consumers from unpredictable global oil market shifts. The proposal seeks to provide long-term relief to motorists, transport operators, and businesses who are frequently impacted by sudden fuel price hikes.

COPEC explained that such a fund would allow the government to purchase and store petroleum products when international prices are low, and release them onto the local market during periods of price surges. This strategic approach, the organisation says, could help reduce sudden financial strain on everyday consumers and ensure more predictable fuel costs across the country.

The call comes amid COPEC’s latest projections, which indicate that petrol prices in Ghana are set to rise by approximately 3.38%, increasing from GHS 12.18 per litre to GHS 12.59 per litre. Diesel prices are expected to climb even higher, with a projected 9.81% increase, moving from GHS 12.49 per litre to GHS 13.71 per litre, placing additional pressure on transport and logistics costs.

Speaking to Citi News on Sunday, November 16, 2025, COPEC’s Head of Research and Training, Paul Ofori, emphasised the urgent need for a long-term price cushioning mechanism. He noted that previous recommendations had not been acted upon and stressed that a dedicated petroleum fund could provide much-needed market stability.

“We were hopeful the government would consider setting up a special petroleum fund so that when international prices are favorable, products can be imported and stored—and released when prices rise to protect consumers,” Ofori said. He added that such a measure could offer both immediate relief and long-term security for Ghanaian households and businesses, helping the nation better navigate global fuel price fluctuations.

source: citi newsroom