Diesel prices in Ghana could have risen to around GH¢28 per litre if the government had not intervened to cushion consumers from the sharp increase in international petroleum prices, the Chief Executive Officer of the National Petroleum Authority (NPA), Godwin Edudzi Tamakloe, has disclosed.
The government, he said, has absorbed a significant portion of the increase in international diesel prices to prevent the full cost from being passed on to consumers at the pumps.
Speaking on Eyewitness News on Wednesday, September 16, the NPA CEO said the intervention has helped keep the diesel price in Ghana below the level it could otherwise have reached.
Also read: Nana Akufo-Addo delivers powerful message to NPP ahead of October 3 internal election
“I need to point out that for the intervention from government, a litre of diesel should be selling within the region of GH¢28 per litre,” he said.
Mr Tamakloe explained that the international cost of diesel has increased significantly since February 2026, putting additional pressure on Ghana’s domestic fuel prices.
According to him, the international price of a tonne of diesel, which stood at about $794 in February 2026, has increased to approximately $1,519, representing almost a doubling of the cost.
“A litre tonne of diesel, which used to cost $794 as of February 2026, today is costing $1,519 per litre tonne. That’s almost twice the amount,” he said.
He said the government decided to absorb part of the increase rather than allow the entire cost to be reflected in pump prices.
The NPA CEO estimated that government interventions to cushion consumers from rising petroleum prices have so far amounted to nearly GH¢1 billion.
“We have done close to GH¢1 billion by way of intervention to push the impact, which otherwise would have come directly to the consumers of petroleum products,” he said.
Mr Tamakloe further explained the impact of the intervention using a 10-litre purchase of diesel as an example.
“Do you know that today, if you go out to the pump and you buy 10 litres of diesel, what it means is that the Government of Ghana is directly putting 20 Ghana cedis in your pockets?” he said.
Fuel prices and transport fares
The comments come amid renewed calls for increases in transport fares, with transport unions pointing to rising fuel costs as one of the factors driving pressure for higher fares.
Mr Tamakloe said the government’s fuel intervention should be taken into account when assessing the effect of petroleum prices on the operating costs of commercial transport operators.
The government has maintained a GH¢2-per-litre intervention on diesel as part of measures aimed at cushioning consumers from the impact of rising international petroleum prices.
However, Mr Tamakloe cautioned that the international petroleum market remains volatile.
He said further increases or movements in global petroleum prices could continue to affect the domestic fuel market and, consequently, the diesel price in Ghana.