The government is considering extending its GH¢2-per-litre intervention on diesel to petrol as international petroleum prices remain high, the Chief Executive Officer of the National Petroleum Authority (NPA), Mr Godwin Edudzi Kudzo Tameklo, has said.
He said the government had so far spent more than GH¢1 billion cushioning consumers from the impact of rising fuel prices.
Mr Tameklo said the NPA was “running different scenarios” to determine whether the GH¢2-per-litre intervention could also be applied to petrol.
The current intervention on diesel is due to end at the end of September, with the NPA assessing options for the next phase.
Speaking on Joy News on Thursday, September 17, 2026, Mr Tameklo said the NPA had prepared different scenarios and submitted them to the Minister of Energy, Mr John Abdulai Jinapor.
“We are running different scenarios to see the feasibility, if it's feasible under the circumstances, to extend to that of petrol as well,” he said.
Mr Tameklo said he could not pre-empt the technical advice being provided to the minister.
He said the matter could also require discussions between the Ministry of Energy and the Ministry of Finance, as well as consideration in the 2027 Budget.
Mr Tameklo said the intervention was introduced following sharp increases in international petroleum product prices, with the government and industry absorbing part of the additional costs.
He identified the free-on-board (FOB) price, the tax component and the exchange rate as the three main factors affecting petroleum product prices.
According to Mr Tameklo, the stability of the cedi had helped to limit the effect of increases in international petroleum prices, while taxes had remained relatively constant.
He said the biggest pressure on fuel prices had come from the FOB price.
Mr Tameklo said the international price of diesel had increased from US$794 per metric tonne on February 28, before the US-Israel attack on Iran, to US$1,519 at the time of the interview.
He said supplier premiums and insurance costs had also increased sharply, while costs associated with crews operating through the Strait of Hormuz had also gone up.
Mr Tameklo said the government’s intervention had prevented the full effect of the international price increases from being passed on to consumers.
He said without the President’s intervention, the price of fuel would have been “not less than GH¢28 per litre”, while the intervention had helped keep the price below GH¢20 per litre.
He said the GH¢2-per-litre intervention provided a direct benefit to consumers, using the purchase of 10 litres of diesel as an example.
“If you are buying 10 litres of diesel, that is GH¢20 you are saving,” he said.
Mr Tameklo said the government was still absorbing the GH¢2 per litre on diesel but stressed that the intervention was not permanent.
He said the NPA was continuously assessing different scenarios based on prevailing market conditions and demand to determine the effect of the crisis and the options available.
According to Mr Tameklo, the diesel intervention was having a greater economic effect because of demand for the product.
He said the next phase of the intervention could involve a different approach, depending on market conditions and the outcome of the assessments.
Mr Tameklo said the government and industry had shared the cost of the crisis, with oil marketing companies and members of the Chamber of Bulk Oil Distributors also absorbing part of the increased costs.
He said the cost of the government’s measures to cushion consumers from higher fuel prices had exceeded GH¢1 billion.
Mr Tameklo said the NPA would continue to assess the various options before a decision was taken on the next phase of the intervention.
