Government extends GH¢2 diesel price relief into September

Duncan Amoah, Executive Secretary of the Chamber of Petroleum Consumers (COPEC), has lauded the government's extension of its GH¢2 per litre diesel relief. In an interview on Joy FM’s Midday News, Mr. Amoah praised the decision as a clear sign that the authorities are heeding the concerns of ordinary Ghanaians. The extension will continue to benefit diesel users who would have faced another significant hike in fuel prices. Originally slated to end on August 31, the relief now applies from Tuesday onwards.

Without the extension, diesel prices could have skyrocketed to nearly GH¢20 per litre. Mr. Amoah acknowledged that extending the intervention comes at a cost to the government, but argued that providing immediate relief is crucial given the impact of soaring fuel prices on households, transport operators, and businesses. However, he stressed that the relief should not become a long-term solution to Ghana's fuel price issues.

He urged the government to utilize the temporary respite to explore medium- and long-term strategies aimed at addressing the root causes of persistent petroleum price hikes.

While the government has taken some steps in this direction, Mr. Amoah noted that there remains a need for more progress. He called for a more comprehensive approach that would reduce the frequency and severity of fuel price shocks, providing greater predictability for consumers. Such a strategy would ensure that government interventions not only offer temporary relief but also tackle the underlying challenges driving petroleum price increases.