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August 3, 2026
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GH¢2 diesel subsidy will cushion consumers amid global fuel market volatility – COMAC
Money
Policy
Key Points
- The CEO of the Chamber of Oil Marketing Companies (COMAC), Dr Riverson Oppong, has welcomed the government's GH¢2 per litre diesel subsidy.
- He described the subsidy as a timely intervention to cushion consumers and operators against global oil market volatility and rising fuel prices.
- Ghana's downstream petroleum sector, like global markets, is grappling with sharp swings in international crude oil prices, impacting the entire value chain.
- Dr Oppong emphasized that the challenges are a global phenomenon affecting both oil-producing and oil-importing nations.
- While appreciative of the diesel subsidy, he expressed a desire for similar relief to be extended to petrol users for broader support.
Why This Matters
This article highlights a critical government intervention to stabilize fuel prices in Ghana, directly impacting household budgets and operational costs for businesses. The volatility in global oil markets poses significant economic challenges, and such subsidies are crucial for mitigating inflation and ensuring economic stability, especially for sectors reliant on diesel.
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