President John Dramani Mahama has assured Ghanaians that there is no immediate risk of fuel shortages despite rising tensions in the Middle East, stating that the country has sufficient petroleum reserves to last for at least six weeks.
Addressing participants at the 2026 Kwahu Business Forum in Mpraeso, the President sought to calm public anxiety triggered by the ongoing conflict involving the United States and Israel versus Iran, which has contributed to a surge in global crude oil prices and subsequent increases at the pump.
He emphasised that Ghana’s current stock levels, combined with ongoing replenishment efforts, were adequate to guarantee an uninterrupted supply in the short term.
“As we have always said, shocks will come and you cannot always predict these external events. However, you must build an economy that is resilient enough to withstand them,” he stated. “I know Iran and Israel are fighting, but so far, our economy has shown remarkable resilience.”
Providing further reassurance, President Mahama said: “We have six months of export cover and six weeks of petroleum stocks, so there is no danger of us running out of petroleum products. Even as we utilise the reserve stock, we are simultaneously replenishing it.”
The President also disclosed that he has convened an emergency Cabinet meeting to assess the impact of the global developments on domestic fuel prices and consider measures to cushion consumers.
“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 said.
“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 further expressed confidence in the resilience of the Ghanaian economy, dismissing fears that the external shock could destabilise the country’s economic outlook.
“I can confidently tell you that the economy will not collapse because of the war in Iran,” he emphasised.
Fuel prices in Ghana have risen sharply since April 1, 2026, following the escalation of the Middle East conflict. Data from the National Petroleum Authority indicate that petrol prices increased by about 15 per cent to approximately GH¢13.30 per litre, while diesel rose by nearly 19 per cent to around GH¢17.10 per litre for the April 1–15 pricing window.
The hikes, among the steepest recorded in recent months, have been driven largely by global supply disruptions and rising crude oil prices. While the relative stability of the cedi has helped moderate the impact, concerns persist over potential knock-on effects on transport fares and inflation.
Government is currently reviewing policy options, including adjustments to fuel margins and levies, as part of efforts to mitigate the impact on households and businesses.
