Govt GH¢1 billion intervention saved diesel from hitting GH¢28 per litre – NPA CEO

NPA CEO, Godwin Edudzi Tameklo

The Chief Executive Officer of the National Petroleum Authority (NPA), Godwin Edudzi Tameklo, has disclosed that the price of diesel could have reached about GH¢28 per litre if government had not stepped in to absorb part of the impact of rising global petroleum prices.

According to him, the intervention has prevented the full increase in international diesel prices from being transferred to consumers at the pump.

Mr Tameklo said the government’s support had played a significant role in keeping domestic diesel prices below the level they would otherwise have reached.

“I need to point out that for the intervention from government, a litre of diesel should be selling within the region of GHC28 per litre,” he said on Eyewitness News on Wednesday, September 16.

He explained that international diesel prices had risen considerably since February 2026, placing additional pressure on the domestic petroleum market.

“A litre tonne of diesel, which used to cost $794 as of February 2026, today is costing $1,519 per litre tonne. That’s almost twice the amount,” he said.

Mr Tameklo said government had chosen to absorb part of the increase instead of allowing the entire cost to be reflected in pump prices.

He put the value of the interventions at nearly GH¢1 billion so far.

“We have done close to Gh¢1 billion by way of intervention to push the impact, which otherwise would have come directly to the consumers of petroleum products,” he said.

To illustrate the effect of the intervention, Mr Tamakloe said motorists purchasing diesel were receiving direct relief through the government’s support.

“Do you know that today, if you go out to the pump and you buy 10 litres of diesel, what it means is that the Government of Ghana is directly putting 20 Ghana cedis in your pockets?” he said.

His comments come at a time transport unions are pushing for an increase in fares, with rising fuel prices cited among the factors driving their demands.

Mr Tameklo said the government’s intervention should therefore be taken into account when assessing the effect of fuel prices on the operating expenses of private transport operators.

As part of measures to cushion consumers, government has maintained a GH¢2-per-litre intervention on diesel.

The NPA CEO, however, noted that developments on the international petroleum market remained uncertain, warning that further changes in global prices could have implications for fuel prices in Ghana.