Diesel could hit GH¢28 without government support – NPA CEO

The price of diesel at fuel stations could have risen to about GH¢28 per litre if government had not stepped in to absorb part of the sharp increase in international petroleum prices, the Chief Executive Officer of the National Petroleum Authority (NPA), Godwin Edudzi Tameklo, has said.

He explained that the cost of diesel on the international market has increased substantially since February 2026, putting significant pressure on domestic fuel prices.

According to him, the international price has almost doubled within the period, making it necessary for government to intervene to limit the impact on consumers.

Mr Tameklo said the price of a tonne of diesel rose from about US$794 in February to US$1,519, a development he said would ordinarily have translated into much higher pump prices if the additional cost had been passed on fully to motorists and other users.

Speaking on Citi FM on Wednesday, September 16, he said government had so far spent close to GH¢1 billion on interventions aimed at cushioning consumers from the rising cost of petroleum products.

He said the intervention was effectively reducing the amount motorists would otherwise have paid at the pumps, noting that someone purchasing 10 litres of diesel was receiving about GH¢20 in government support.

“I need to point out that for the intervention from government, a litre of diesel should be selling within the region of GH¢28 per litre,” Mr Tameklo said.

He added that the government’s intervention had been necessary to prevent the full effect of rising international prices from being transferred to consumers, particularly at a time when higher fuel costs could have wider implications for transportation and the cost of goods and services.

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DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.