IMANI, COPEC, others urge GHC1.65 fuel price cut to ease cost of living

A group of policy and energy think tanks, including IMANI Africa, COPEC Ghana, INSTEPR, and Institute for Energy Security, has called on the government to reduce fuel prices by GHC1.65, saying the move would offer much-needed relief to consumers struggling with the high cost of living.

The recommendation follows a directive from John Dramani Mahama, who asked the Ministries of Energy and Finance to reassess the petroleum pricing structure and explore possible cuts in taxes, levies, and margins.

In a joint statement issued on Tuesday, April 14, 2026, the coalition stressed that the proposed reduction should be achieved through a broad restructuring of the pricing system rather than temporary or piecemeal interventions.

They suggested a total reduction of GHC1.65 in fuel prices, proposing that the adjustment remain in place for two months, longer than the four weeks suggested by the government.

According to the group, extending the duration would provide more consistent relief for households and businesses during what they describe as challenging economic conditions, while allowing room for reassessment based on global oil market trends.

The think tanks also argued that the measure would not heavily impact Ghana’s finances, citing anticipated revenue from crude oil exports during the period.

Their proposal comes at a time of ongoing public concern over fuel costs, which continue to drive increases in transport fares and food prices.

While advocating for immediate relief, the coalition also emphasized the need for longer-term reforms to the petroleum pricing system to help prevent recurring price spikes in the future.