Government has announced a set of immediate measures aimed at reducing fuel prices and cushioning Ghanaians against rising transport costs, following recent increases at the pump.
At a press briefing on Thursday, April 9, the Minister of State for Government Communications, Felix Kwakye Ofosu, said Cabinet has directed the Ministers for Finance and Energy to take urgent steps to cut fuel prices through the removal of some taxes and margins.
He explained that the intervention will take effect from the next pricing window, expected within a week, and will remain in force for an initial period of four weeks, after which the situation will be reviewed.
“The first directive that cabinet has issued is that the finance and energy ministers should take immediate steps to reduce the price of fuel through the removal of some taxes and margins on fuel, effective the next pricing window.”
In addition to the tax relief, Cabinet has instructed the Transport Minister to fast-track the deployment of newly acquired Metro Mass buses to ease the burden on commuters.
The buses are to be prioritised for high-traffic routes to help stabilise transport costs, particularly during peak hours.
“You recall that over the weekend, I announced the arrival of 100 Metro Mass buses. Another batch of 100 buses are expected in August. And then the last batch of 100 are expected in November to make up 300, but currently we have 100 available.
“The transport minister has been instructed by cabinet to ensure expedited deployment of these buses in high traffic corridors to ensure that it alleviates any difficulties that may have arisen out of the recent fuel price increases,” he said.
Mr. Kwakye Ofosu further indicated that the Transport Ministry has been tasked to ensure that fares charged by Metro Mass Transit remain lower than those of private operators, as part of efforts to provide affordable alternatives for the public.
As part of broader cost-containment measures, President John Mahama has also directed all ministers and senior government officials to strictly comply with the existing ban on fuel allowances and fuel allocations.
“And this applies to all ministers and senior government officials,” he said.
According to the Minister, the measures are designed to mitigate the impact of recent global developments on fuel prices, while protecting consumers from a potential surge in transport fares and the general cost of living.
He attributed the recent fuel price hikes to disruptions in global oil supply, particularly restrictions in the Strait of Hormuz, a key route through which a significant portion of the world’s crude oil is transported.
The situation, he noted, has led to increased crude oil prices and higher insurance and shipping costs.
Despite Ghana’s relatively stable economic conditions, Mr. Ofosu acknowledged that the external shocks have begun to reflect at the pumps, prompting the government intervention to prevent further economic strain on Ghanaians.
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