Government Spokesperson Felix Kwakye Ofosu has indicated that authorities may review fuel taxes and levies if increasing global oil prices begin to place a heavy burden on consumers.
According to him, fuel prices in Ghana are influenced by three main factors: international market prices, taxes and levies, and the exchange rate.
He noted that while the government has no control over global oil prices, it can adjust domestic taxes to reduce the impact on citizens when necessary.
According to him, any intervention will depend on external developments, particularly if events such as prolonged tensions in the Middle East lead to sustained increases in global fuel prices.
“If global prices rise to a level that places too much pressure on consumers, government may adjust other components to cushion the effect,” he stated.
Mr. Kwakye Ofosu stressed that a review of fuel taxes is not automatic but will be considered carefully based on prevailing global conditions and their impact on the local economy.
His remarks come amid concerns that escalating tensions in the Middle East could disrupt supply and push crude oil prices higher, affecting countries like Ghana that rely heavily on fuel imports.
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Fuel prices are already expected to increase significantly from April 1, 2026, with petrol and diesel projected to rise at the pumps.
He emphasized that all options remain under consideration, and any decision will aim to balance consumer relief with the government’s fiscal responsibilities.
“All considerations are on the table, but it will depend on developments,” he added.
