President John Dramani Mahama 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 GHS 2.00 per litre for one month.
A statement issued by Mr Felix Kwakye Ofosu, Presidential Spokesman and Minister of State in-charge of Government Communications, said this temporary intervention was 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.
It said this directive shall take effect from Tuesday, 4th August, 2026, and shall remain in force for one month, unless otherwise reviewed by the Government.
The statement said the Government would continue to monitor developments in the international energy market closely and take additional policy measures, where necessary to protect the interests of the Ghanaian people and sustain economic recovery.
Prices of petroleum products have recorded a sharp increase at fuel stations across the country, with Oil Marketing Companies (OMCs) adjusting their pump prices upwards from Saturday, August 1, 2026.
The latest increases, which will remain in effect until August 15 under Ghana’s bi-weekly fuel price review system, have pushed the cost of petrol and diesel significantly higher, adding further pressure on consumers and businesses.
The upward adjustment follows projections by the Chamber of Oil Marketing Companies (COMAC) that fuel prices would rise during the current pricing window due to higher global crude oil prices, increases in refined petroleum product prices and depreciation of the Ghana cedi against the US dollar.
Petrol prices hit GH¢16 per litre
Major fuel retailers have increased petrol prices to levels approaching GH¢16 per litre, with some stations selling the product above that threshold.
Shell is selling petrol at GH¢16.29 per litre, while diesel has increased to GH¢19.49 per litre.
GOIL has also increased the price of petrol to GH¢15.99 per litre, with diesel selling at GH¢19.26 per litre.
Star Oil has adjusted its petrol price to GH¢15.53 per litre, while diesel is now selling at GH¢18.77 per litre.
Later in the day, it reduced prices to GH¢14. 53 per litre of petrol and GH¢16.97 for diesel.
At Dukes Petroleum, petrol is being sold at GH¢14.97 per litre, while diesel is priced at GH¢17.60 per litre.
IBM recorded one of the highest pump prices, selling petrol at GH¢15.99 per litre and diesel at GH¢19.20 per litre.
The increases represent another rise in fuel prices after previous adjustments driven by international market conditions and currency pressures.
