President Mahama orders GH¢2 reduction in diesel price

John Dramani Mahama is the President of Ghana

President John Dramani Mahama has directed a GH¢2.00 per litre reduction in the regulatory margin on diesel to help lower fuel costs for consumers.

The directive, announced on Monday, August 3, 2026, will take effect from Tuesday, August 4, 2026, and will remain in force for one month, unless the government decides otherwise.

According to a statement issued by the Spokesperson to the President and Minister for Government Communications, Felix Kwakye Ofosu, the decision follows Cabinet approval and a similar intervention introduced in April 2026.

The government said the temporary measure is aimed at easing the burden on consumers, preventing transport fare increases, reducing inflationary pressures, and limiting the impact of rising fuel prices on the cost of living.

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"This temporary intervention is 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," the statement said.

The statement added that the government will continue to monitor developments in the global energy market and take further action, if necessary, to protect consumers and support the country's economic recovery.

The decision comes at a time when global oil prices remain volatile, prompting the government to introduce measures to ease the burden on consumers.