{
  "id": 90544,
  "title": "COPEC welcomes GH¢2 diesel subsidy but urges gov’t to pursue long-term fuel strategy",
  "url": "https://urgent.news/2026/08/03/copec-welcomes-gh-2-diesel-subsidy-but-urges-govt-to-pursue-long-term",
  "topic": "world",
  "section": "World",
  "published": "2026-08-03T14:48:27.000Z",
  "source": {
    "name": "MyJoyOnline Ghana",
    "slug": "myjoyonline-ghana",
    "url": "https://www.myjoyonline.com/copec-welcomes-gh%c2%a22-diesel-subsidy-but-urges-govt-to-pursue-long-term-fuel-strategy/"
  },
  "original_language": "en",
  "account": "The Chamber of Petroleum Consumers (COPEC) has applauded President John Dramani Mahama's decree to absorb GH¢2 for every liter of diesel. The move, described as positive, comes amid a significant surge in diesel prices, bringing the cost close to GH¢20 per liter at various fuel stations. COPEC Executive Secretary Duncan Amoah spoke on Joynews The Pulse, highlighting how the intervention would alleviate the financial burden on consumers, especially commercial drivers and businesses affected by escalating fuel costs. \"I do think that the government must intervene. It was a very positive intervention,\" Amoah affirmed.\n\nAmoah specified that the government's focus on diesel was prompted by the substantial disparity between diesel and petrol prices. While petrol prices hovered around GH¢14 to GH¢15 per liter, diesel prices had skyrocketed to approximately GH¢19 and were nearing GH¢20 per liter at some pumps. He noted that the price gap between diesel and petrol, which had widened to nearly four Ghana cedis, was noteworthy. Although he would have preferred some relief for petrol users as well, COPEC deemed it a matter of market trends.\n\nDespite the welcome gesture, Amoah cautioned against relying on short-term measures like fuel subsidies to manage price increases. He advocated for the implementation of a strategic fuel reserve system, which would enable Ghana to buy petroleum products at favorable international prices and protect against global price hikes. \"This intervention is not one the government should rely on. Government should quickly find a way to move towards the strategic reserve programme module,\" he stressed. Amoah argued that such a system would lessen Ghana's vulnerability to external fuel price volatility and avert abrupt price surges at the pump.\n\nHe also pointed out that some Oil Marketing Companies (OMCs) had already started lowering prices in anticipation of the government's directive, which is set to take effect on Tuesday, August 4, 2026. Star Oil was cited as one OMC that swiftly reduced its diesel price to around GH¢16.97 per liter, while petrol remained at approximately GH¢14.53 per liter. Other major OMCs, such as GOIL, followed suit, but COPEC urged more companies to offer similar discounts to benefit consumers. Amoah suggested that increased competition among fuel retailers could help keep prices lower, particularly for commercial drivers who had threatened fare hikes following recent fuel price hikes. The intervention is anticipated to alleviate pressure on transport operators and commuters as the government endeavors to shield consumers from rising petroleum prices.",
  "summary": "The Chamber of Petroleum Consumers (COPEC) has welcomed President John Dramani Mahama’s directive for government to absorb GH¢2 on every litre of diesel, describing the intervention as a positive move but cautioning against relying on short-term measures to manage fuel price increases. COPEC Executive Secretary Duncan Amoah said the decision was necessary following the sharp rise in diesel…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "MyJoyOnline Ghana",
        "title": "Gov’t should build strategic fuel reserves instead of ad hoc pump price cuts – COPEC",
        "url": "https://urgent.news/2026/08/03/govt-should-build-strategic-fuel-reserves-instead-of-ad-hoc-pump",
        "published": "2026-08-03T15:32:21.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}