President John Dramani Mahama has moved to reassure Ghanaians that the country is not at risk of running out of fuel, despite rising global tensions and increasing prices at the pumps.
Speaking at the 2026 Kwahu Business Forum in Mpraeso, the President acknowledged growing concerns following the ongoing conflict in the Middle East, which has pushed global crude oil prices higher and triggered recent fuel price hikes in Ghana.
He explained that while such external shocks are often unpredictable, Ghana’s economy is being structured to withstand them. According to him, the country currently has enough petroleum reserves to maintain stability in the short term.
“We have six months of export cover and six weeks of petroleum stocks, so there is no danger of us running out of petroleum products,” he said, adding that stocks are continuously being replenished even as they are used.
Fuel prices have seen sharp increases since April 1, 2026, with petrol rising by about 15 percent to around GH¢13.30 per litre, and diesel going up by nearly 19 percent to approximately GH¢17.10 per litre. The surge has largely been attributed to global supply disruptions, although the relative stability of the cedi has helped soften the impact.
In response to the situation, President Mahama revealed that he has called an emergency Cabinet meeting to assess developments and consider measures to ease the burden on consumers.
“I have called for this emergency Cabinet meeting to decide on specific measures we can take to cushion petroleum prices,” he stated, noting that possible adjustments—particularly within pricing margins—are being explored.
He stressed that government remains committed to providing relief and will review key components of the fuel pricing structure to identify areas where interventions can be made.
The President also expressed confidence in the strength of the economy, dismissing fears that the ongoing conflict could derail Ghana’s progress.
“I can confidently say the economy will not collapse because of the war in Iran,” he assured.
