By Ashiadey Dotse
A group of civil society organisations has proposed a GH¢1.65 reduction in petroleum prices to provide temporary relief to Ghanaians facing rising living costs.
The organisations, IMANI Africa, COPEC Ghana, INSTEPR and the Institute for Energy Security, made the proposal in a joint press release issued on April 14, 2026.
The recommendation follows a directive by President John Dramani Mahama, asking the Ministries of Energy and Finance to review petroleum pricing and suggest possible tax and levy reductions.
According to the groups, the proposed GH¢1.65 cut should last for two months instead of the four weeks earlier suggested by the government. They believe this would provide more meaningful relief without harming the sustainability of the petroleum sector.
“While the relief should be substantial, it must not create a corrosive effect on operations within the petroleum subsector,” the statement said.
The organisations noted that the proposal would not place excessive pressure on government finances, as the country is expected to receive significant revenue from crude oil production and exports during the period.
Beyond the immediate price reduction, the groups also called for long-term measures to address persistent fuel price increases. These include a full review of taxes and levies on petroleum products, with the aim of removing those that burden citizens and the economy.
They further recommended the creation of a strategic fuel reserve fund to help stabilise prices during unexpected global changes. This, they said, would involve using selected levies to purchase and store fuel for future interventions.
In addition, the groups urged the government to invest in modernising the country’s refinery and storage systems. They highlighted the need to strengthen the Tema Oil Refinery and the Bulk Oil Storage and Transportation Company to improve local refining capacity and storage.
The proposals, according to the organisations, align with commitments made by President Mahama during his recent engagement with civil society groups.
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