Government keeps GH¢2 diesel price cut for September

The government has extended its GH¢2 per litre reduction in diesel prices into the first pricing window of September, aiming to protect consumers from escalating fuel costs. This decision comes after concerns were raised over potential price hikes at the pumps in the upcoming pricing window. Initially set to expire at the end of August, the temporary measure was introduced as a two-pricing window intervention.

The government, recognizing the impact of rising global oil prices, decided to maintain the GH¢2 reduction for at least one additional pricing window. Currently, diesel is being sold at approximately GH¢17 per litre across most Oil Marketing Companies (OMCs). This extension is anticipated to offer some respite to motorists, commercial transport operators, and businesses that heavily depend on diesel, especially in the face of increased international crude oil prices. This is the third government intervention to support consumers grappling with higher fuel prices.