Diesel price to remain below GH¢20 per litre in October after government intervention – NPA

The National Petroleum Authority (NPA) has announced that diesel prices in Ghana will stay below GH¢20 per litre in the first pricing window of October, due to government interventions aimed at protecting consumers from increasing international fuel costs. The National Petroleum Authority's CEO, Godwin Edudzi Tamakloe, revealed that without these measures, diesel prices were expected to climb to approximately GH¢22 per litre.

Mr Tamakloe stated, "Through government intervention, we will be keeping diesel prices below GH¢20." The government's interventions were reached at an urgent meeting between officials and key players in the petroleum sector to lessen the impact of a surge in global fuel prices on the domestic market. Under the new measures, Sentuo Oil Refinery and Tema Oil Refinery (TOR) will continue to sell petroleum products to Bulk Distribution Companies (BDCs) at the prices set during the previous pricing window.

Additionally, the government has temporarily suspended the GH¢1 Energy Sector Levy, commonly known as the D-Levy, on diesel for October. The CEO explained, "The combined measures are designed to avoid the expected sharp rise in diesel prices at the pumps." The NPA CEO added that the Finance Minister had agreed to suspend the levy for October, but its reinstatement could depend on market developments.

These measures are set to begin with the opening of the first pricing window for October as the government strives to mitigate the effects of rising global fuel prices on consumers.