The Chairman of the New Patriotic Party (NPP) Policy Coordination Committee, Kojo Oppong Nkrumah, has questioned the financing and sustainability of the government's announced GH¢2.00 per litre reduction in diesel prices, describing the intervention as a temporary relief that does not reverse the increases consumers have endured over the past 18 months.
Addressing a press conference in Accra yesterday, Mr Oppong Nkrumah, who is also the Member of Parliament (MP) for Ofoase/Ayirebi, said the reduction should be viewed alongside the Energy Sector Levies (Amendment) Act and the World Bank's recent downgrade of Ghana's Energy Sector Recovery Programme.
He argued that although the measure would ease the burden on consumers for a month, diesel prices would remain above their January 2025 levels (even after the reduction).
According to him, petrol was selling at GH¢15.99 per litre and diesel at GH¢19.26 per litre as of August 3, 2026, compared with about GH¢15.13 and GH¢15.49 respectively in January 2025, despite the appreciation of the cedi over the same period
Energy levy concerns
Mr Oppong Nkrumah recalled that Parliament approved an additional GH¢1.00 per litre energy sector levy in June 2025 under a certificate of urgency, saying NPP Members of Parliament opposed the measure and walked out of the Chamber.
He said consumers had paid the levy for more than a year and would receive only a temporary reduction on diesel prices, while petrol users would receive no relief.
"The GH¢2.00 reduction is a partial and temporary return of money already collected from consumers, while the levy remains in force," he stated.
The former Information Minister also expressed concern about the Energy Sector Levies (Amendment) Bill, 2026, recently passed by Parliament, which increased the Energy Sector Shortfall and Debt Repayment Levy on fuel oil.
While acknowledging government's efforts to prevent tax evasion, he said details of the proposed refund mechanism for eligible industrial users had not been made public, creating uncertainty for businesses.
World Bank downgrade
Mr Oppong Nkrumah further cited the World Bank's downgrade of Ghana's Energy Sector Recovery Programme from "Moderately Satisfactory" to "Unsatisfactory", attributing it to stalled reforms, delayed procurement and weak governance.
He said the development underscored the need for greater transparency and prudent management of the energy sector.
He called on the government to disclose the specific taxes, levies or regulatory margins being reduced to finance the diesel price relief, indicate whether the intervention had been provided for in the 2026 Budget, and explain how transport fares and prices of essential goods would reflect the reduction.
Mr Oppong Nkrumah also urged the government to publish the petroleum price build-up, cap the intervention at a disclosed fiscal amount, provide regular reports on revenue foregone and prioritise targeted support for public transport, agriculture, fishing and food distribution.
