The government is set to lose an estimated GH¢200 million in revenue following its decision to reduce fuel prices in a bid to ease the cost of living for Ghanaians.
Spokesperson for the Ministry of Energy, Richmond Rockson, made this revelation during an interview on JoyNews PM Express on Wednesday, April 15, noting that the move comes at a time when global petroleum prices are on the rise.
He explained that the surge in international oil prices, largely influenced by geopolitical tensions in the Middle East, has exerted upward pressure on domestic fuel prices, compelling the government to intervene.
According to him, the decision taken by the President and Cabinet underscores a conscious effort to prioritise the welfare of citizens, despite the financial implications for the state.
“This will lead to a net loss of about GH¢200 million that could have accrued to the government, but it is a necessary sacrifice to bring relief to the people of Ghana,” he stated.
Under the intervention, which takes effect from April 16, 2026, the government will absorb GH¢2.00 per litre on diesel and GH¢0.36 per litre on petrol within the next pricing window.
Approved by Cabinet, the policy will remain in force for one month, during which authorities will monitor developments on the global oil market and assess the need for further action.
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Source: www.myjoyonline.com
