Diesel could hit GH¢28 without government support – NPA CEO
The price of diesel at fuel stations could have risen to about GH¢28 per litre if government had not stepped in to absorb part of the sharp increase in international petroleum prices, the Chief Executive Officer of the National Petroleum Authority (NPA), Godwin Edudzi Tameklo, has said.
According to the National Petroleum Authority (NPA) CEO, Godwin Edudzi Tameklo, diesel prices at fuel stations could have reached approximately GH¢28 per litre if the government had not intervened. Tameklo explained that the cost of diesel on the international market surged substantially since February 2026, exerting considerable pressure on domestic fuel prices.
He noted that the international price had nearly doubled during this period, necessitating government intervention to mitigate the impact on consumers. Tameklo revealed that the price of a tonne of diesel had risen from about US$794 to US$1,519, a development that would have likely resulted in significantly higher pump prices without government support.
Speaking on Citi FM on September 16, he stated that the government had spent nearly GH¢1 billion on interventions to shield consumers from the rising cost of petroleum products. He highlighted that the intervention effectively reduced the amount motorists would otherwise have paid at the pumps, with a 10-litre diesel purchase receiving about GH¢20 in government assistance.
Tameklo emphasized that, without government intervention, a litre of diesel should be selling at around GH¢28 per litre. He added that the government's intervention was crucial to prevent the full extent of rising international prices from being transferred to consumers, especially at a time when higher fuel costs could have broader implications for transportation and the cost of goods and services.
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