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September 13, 2026
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COPEC calls for GH¢1 petrol, continuation of GH¢2 diesel subsidy amid price surge
Money
Policy
Opportunity
Growth
Key Points
- COPEC is calling on the Ghanaian government to extend fuel subsidies into the second pricing window of September.
- The Chamber proposes a GH¢1 per litre relief for petrol and maintaining the GH¢2 per litre subsidy on diesel.
- This appeal comes as COPEC projects significant price increases from September 16, with petrol reaching GH¢16.26/litre and diesel GH¢19.07/litre.
- The projected increases are attributed to substantial rises in international crude oil (from $89.30 to $103.07/barrel) and refined product prices.
- COPEC also urged Oil Marketing Companies to reduce their margins and the government to expedite Tema Oil Refinery's (TOR) expansion to 100,000 barrels per day to reduce import reliance.
Why This Matters
Fuel prices are a critical determinant of the cost of living and doing business in Ghana, directly impacting inflation, transportation, and household budgets. Government intervention through subsidies has significant fiscal implications, potentially straining the national budget while offering temporary relief to citizens. The call for Tema Oil Refinery's expansion also highlights a long-term strategy to enhance energy security and reduce reliance on expensive imported finished petroleum products, which is crucial for economic stability.
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‘We tend to be open-minded and liberal, but that’s not how we’ve lived so far’ – Kufuor
- Former President Kufuor advocates for a Ghana where individual enterprise thrives, supported by strong leadership and inclusive governance.
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