President John Dramani Mahama has summoned an emergency cabinet meeting to devise urgent measures to cushion Ghanaians from the sharp rise in fuel prices, which has been driven by escalating tensions in the Middle East.
The President made the announcement on Saturday, April 4, while delivering the keynote address on the second day of the Kwahu Business Forum in Mpraeso in the Eastern Region.
“I have called for this emergency cabinet meeting to decide on specific measures we can take to cushion petroleum prices,” President Mahama said.
“There are adjustments we can make, particularly in the margins, to help maintain relatively stable prices as we pray for the war to cease.”
The meeting, he explained, will examine the structure of fuel pricing in Ghana, including taxes, levies and margins, with a view to identifying areas where relief can be provided without undermining fiscal stability.
“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 stated.
Fuel prices in Ghana surged significantly from April 1, 2026, following the escalation of the Iran conflict, which has driven global crude oil prices sharply higher.
According to the National Petroleum Authority, petrol prices rose by approximately 15% to around GH¢13.30 per litre, while diesel increased by about 19% to GH¢17.10 per litre for the April 1–15 pricing window.
Despite the sharp increases, President Mahama sought to reassure the public that the country’s economic foundations remain solid.
“I can confidently tell you that the economy will not collapse because of the war in Iran,” he emphasised, adding that Ghana currently has sufficient petroleum reserves to last six weeks and that the government is actively working to secure additional supplies.
The President also commended transport unions for their restraint in not increasing lorry fares despite the spike in pump prices, describing their patience as a critical buffer against further economic strain on commuters and businesses.
“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,” he said.
The outcome of the emergency cabinet meeting is expected to shape Ghana’s immediate response to the global oil price shock, as authorities navigate the delicate balance between consumer relief and economic stability.
President Mahama urged citizens to remain patient as the government works to stabilise the situation, assuring Ghanaians that no option is off the table in protecting households and businesses from the full impact of the global energy crisis.