President Mahama calls for emergency Cabinet Meeting over rising fuel prices

President John Dramani Mahama has convened an emergency cabinet meeting to address the sharp rise in fuel prices in Ghana, a development largely driven by the ongoing conflict in Iran and escalating tensions across the broader Middle East.

Speaking during the keynote address on the second day of the Kwahu Business Forum held on Saturday, April 4, 2026, the President explained that the meeting is intended to identify immediate and practical interventions to cushion Ghanaians from the impact of rising petroleum costs.

“I have called for this emergency cabinet meeting to decide on specific measures we can take to cushion petroleum prices while we hope the conflict comes to an end. There are adjustments we can make, particularly in the margins, to help maintain relatively stable prices as we pray for the war to cease,” he stated.

He further emphasized that the government remains committed to easing the burden on citizens and will thoroughly examine all components that contribute to fuel pricing. “The government remains fully committed to easing the burden on citizens. The cabinet will examine various aspects of the fuel price build-up and consider interventions to provide relief,” he added.

President Mahama also reassured the public that Ghana’s economy is resilient enough to withstand external shocks, including the current geopolitical tensions affecting global energy markets. “I can confidently tell you that the economy will not collapse because of the war in Iran,” he stressed, seeking to calm public anxiety over the economic outlook.

In addition, the President commended transport unions for demonstrating restraint by not increasing lorry fares despite the surge in fuel prices. He acknowledged their cooperation as critical in preventing an immediate rise in the cost of living.

“I want to express my sincere gratitude to the transport unions for their patience and understanding. We did not anticipate this situation, but they have held off on increasing fares. I am confident they will continue to exercise restraint as we work together to improve the situation,” he said.

He urged Ghanaians to remain patient and supportive as the government works to stabilize prices and mitigate the broader economic impact of the crisis.

Fuel prices in Ghana experienced a significant increase effective April 1, 2026, following the escalation of the Middle East conflict, which has driven global crude oil prices upward and disrupted supply chains.

According to the National Petroleum Authority, petrol prices rose by approximately 15 percent to about GH¢13.30 per litre, while diesel prices increased by roughly 19 percent to GH¢17.10 per litre for the April 1–15 pricing window.

This surge represents one of the steepest fuel price hikes in recent months and reflects broader international market pressures, including supply disruptions linked to the conflict. While the relative stability of the Ghanaian cedi has helped cushion the full impact, concerns remain over rising transportation costs and inflationary pressures.

Government officials are currently reviewing possible interventions, including reducing fuel margins and levies, as part of efforts to ease the burden on consumers and stabilize the domestic fuel market.