President John Dramani Mahama has allayed fears of an imminent fuel shortage amid the ongoing conflict involving Iran, assuring Ghanaians that the country has sufficient petroleum reserves to last six weeks.
Speaking at the 2026 Kwahu Business Forum in Mpraeso in the Eastern Region, President Mahama said Ghana is not at risk of running out of fuel, adding that government is actively working to secure additional supplies.
He emphasised that while global shocks are inevitable, the government is focused on building a resilient economy capable of withstanding such disruptions.
“As we have always said, shocks will come and you cannot always predict these external events. However, you must build an economy that is resilient enough to withstand them,” he stated. “I know Iran and Israel are fighting, but so far, our economy has shown remarkable resilience.”
President Mahama further assured: “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. Even as we utilise the reserve stock, we are simultaneously replenishing it.”
Addressing concerns over rising fuel prices, the President disclosed that he has convened an emergency cabinet meeting to consider measures to cushion consumers.
“I have called for this emergency cabinet meeting to decide on specific measures we can take to cushion petroleum prices while we hope the conflict comes to an end. There are adjustments we can make, particularly in the margins, to help maintain relatively stable prices as we pray for the war to cease,” he said.
“The government remains fully committed to easing the burden on citizens. The cabinet will examine various aspects of the fuel price build-up and consider interventions to provide relief.”
He reiterated that his administration has put in place measures to safeguard the economy against external shocks, insisting that the situation will not derail Ghana’s economic stability.
“I can confidently tell you that the economy will not collapse because of the war in Iran,” he stressed.
Fuel prices in Ghana surged significantly effective April 1, 2026, following the escalation of the Middle East conflict, which has driven global crude oil prices upward. According to the National Petroleum Authority (NPA), petrol prices increased by about 15% to around GH¢13.30 per litre, while diesel rose by approximately 19% to GH¢17.10 per litre for the April 1–15 pricing window.
The increases mark one of the sharpest adjustments in recent months, driven largely by global market pressures and supply disruptions. Although the relatively stable Ghanaian cedi has helped moderate the impact, concerns remain about rising transport costs and inflation.
Government is currently reviewing options, including possible reductions in fuel margins and levies, to ease the burden on consumers.
