COPEC urges government to extend fuel tax relief as prices threaten to rise

14:39 - 15 May 2026

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The Chamber of Petroleum Consumers (COPEC)

COPEC is urging government to extend its temporary fuel tax relief measures as global oil price volatility continues, with projections showing fuel prices in Ghana could rise again from May 16, 2026.

COPEC has urged government to extend the temporary fuel tax relief by another month to protect consumers from rising fuel prices.
The group says global crude oil volatility and Middle East tensions continue to keep fuel prices unstable.
Fuel prices in Ghana are projected to increase again from May 16, despite current relief measures.

The Chamber of Petroleum Consumers (COPEC) has called on government to extend its temporary fuel tax relief by one more month, warning that global conditions driving fuel prices remain unstable.

According to COPEC, ongoing geopolitical tensions in the Middle East, along with continued volatility in international crude oil prices, are still affecting fuel markets and keeping prices elevated.

Government recently introduced a one-month intervention aimed at easing pressure on consumers. The policy absorbed GH¢2 per litre on diesel and 36 pesewas per litre on petrol, helping to reduce transportation and business costs across the country.

Speaking to Citi News, COPEC Executive Secretary Duncan Amoah said extending the relief would help maintain recent stability in fuel prices and prevent a possible upward adjustment in the coming pricing window.

He stressed that global factors responsible for the initial intervention have not improved.

The underlying factors for which the intervention became necessary are still rife. International benchmarks are high, premiums are still high, and local pump prices are high. Given the circumstances, it would only be reasonable for us to ask the government to extend the intervention by another month, he said.

Mr. Amoah warned that any increase in fuel prices would have a broad impact on the cost of living.

The fear of fuel prices going up is that when it does, it drags a lot of things with it. Transportation, food costs, and non-food inflationary pressures would also go up, he explained.

He added that although the extension may have a cost implication for government, it would be more beneficial to consumers given current market conditions.

For us, it might cost the government something, but I think the government will still be better off extending the intervention than at this point saying we are removing the GH¢2 we gave on diesel and then the 36 pesewas on petrol, he said.

He further urged government to prioritise consumers, stressing that current market conditions still justify continued support.

The appeal comes ahead of the second pricing window for May, as industry players monitor possible adjustments at the pumps.

Meanwhile, international ratings agency Fitch Ratings has also projected that government may extend the temporary fuel relief measures introduced in April 2026, citing ongoing global uncertainties and limited fiscal pressure from the policy.

COPEC maintains that extending the intervention will help protect consumers from renewed fuel price shocks while global conditions remain unstable.

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