President Mahama Orders GH¢2 Reduction in Diesel Price to Ease Cost of Living

 3 August 2026

President John Dramani Mahama has directed a GH¢2.00 per litre reduction in the regulatory margin on diesel for a period of one month as part of measures to cushion consumers and mitigate the impact of rising fuel prices on the cost of living.

The directive, announced by the Presidency on Monday, August 3, 2026, follows a decision by Cabinet and builds on the government's successful intervention in April 2026. According to the statement, the reduction will take effect from Tuesday, August 4, 2026, and will remain in force for one month unless otherwise reviewed by the Government.

The temporary measure is intended to provide relief to consumers, prevent increases in transport fares, contain inflationary pressures, and reduce the pass-through effects of higher fuel prices on goods and services.

The Presidency noted that the intervention forms part of the Government's broader efforts to protect households and businesses from economic shocks while supporting Ghana's ongoing economic recovery.

In the statement signed by Felix Kwakye Ofosu, Spokesperson to the President and Minister for Government Communications, the Government reaffirmed its commitment to closely monitoring developments in the international energy market and implementing additional policy measures where necessary.

"The Government will continue to monitor developments in the international energy market closely and take additional policy measures, where necessary, to protect the interests of the Ghanaian people and sustain economic recovery," the statement said.

The reduction in the diesel regulatory margin is expected to benefit commercial transport operators, businesses that rely on diesel-powered equipment, and consumers by helping to moderate transport and operational costs over the intervention period.