By Ashiadey Dotse
A member of the NDC’s communications team, Dr Prince Amoabeng Aggrey, says Ghana could lose more than GHS500 million each month following the government’s decision to subsidise fuel prices.
Speaking in an interview on GTV’s Current Agenda on Saturday, April 18, 2026, Dr Aggrey explained that the intervention, although helpful to citizens, will come at a significant cost to the state.
The government announced temporary measures to reduce the impact of rising global fuel prices, effective April 16, 2026. Under the policy, the state will absorb GHS2.00 per litre on diesel and GHS0.36 per litre on petrol to cushion consumers.
Dr Aggrey noted that the move is expected to ease the burden on households, transport operators and businesses, particularly as fuel prices have risen due to global market volatility.
However, he pointed out that the subsidy means the government will forgo substantial revenue from margins and taxes within the petroleum sector. According to him, funds that would have been channelled into development and other sectors of the economy are now being used to support the intervention.
He further explained that Ghana’s monthly fuel consumption, estimated at about 230 million litres of diesel and 250 million litres of petrol, makes the cost of the subsidy significantly high.
Despite the financial impact, Dr Aggrey said the policy reflects the government’s effort to support citizens during difficult times, particularly workers who depend heavily on transportation.
He added that the intervention is expected to be reviewed periodically, depending on developments in the global market.
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