Government has directed the Finance and Energy Ministers to immediately scrap selected taxes and regulatory margins on petroleum products as part of efforts to bring down fuel prices.
This was announced by the Minister of State for Government Communications, Felix Kwakye Ofosu, following a Cabinet meeting held on Thursday, April 9, 2026. According to him, the directive will take effect in the next pricing window.
He explained that the intervention is intended to cushion consumers from rising fuel costs driven by global developments, particularly tensions in the Middle East involving the United States, Iran and Israel, which have disrupted supply chains.
“These increases, if not checked, could spill over into transport fares and the prices of other goods and services, ultimately affecting the cost of living,” he said.
Kwakye Ofosu noted that Cabinet has instructed the ministers to act without delay to ensure the expected reduction in ex-pump prices materialises as soon as possible.
“The first directive that cabinet has issued is that the finance and energy ministers should take immediate steps to reduce the price of fuel through the removal of some taxes and margins on fuel, effective the next pricing window… and this is supposed to be done as soon as possible,” he stated.
The tax relief measures are expected to last for an initial four-week period, during which government will monitor developments on the international oil market before taking further decisions.
