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Fuel Prices Set for Sharp Increase From March 16 as Global Oil Prices Surge

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Fuel prices in Ghana are expected to rise sharply beginning March 16, 2026, according to the latest pricing outlook released by the Chamber of Oil Marketing Companies (COMAC).

The report, which guides pricing decisions for oil marketing companies and was sighted by JoyBusiness, projects significant increases across major petroleum products. Petrol is expected to rise by 16.93 percent, while diesel could increase by 17.21 percent. Liquefied Petroleum Gas (LPG) is also projected to go up by 11.26 percent.

If the projections hold, the price of petrol could reach about GH¢14.32 per litre, while diesel may sell at approximately GH¢16.10 per litre at the pump.

Fourth Increase Since January

This will mark the fourth projected fuel price increase since January 2026. However, it is expected to be the steepest increase recorded this year for petroleum products.

Global Factors Driving the Increase

COMAC attributes the anticipated price surge mainly to rising global crude oil prices. The increase has been influenced by escalating geopolitical tensions in the Middle East and disruptions along the strategic oil shipping corridor known as the Strait of Hormuz.

The supply disruptions have pushed international petroleum prices upward. According to the report, diesel prices on the international market rose by about 43 percent, LPG increased by 23.96 percent, and petrol climbed by 19.41 percent.

Crude oil prices also recorded a sharp jump in mid March, rising from 71.41 dollars per barrel to 86.55 dollars per barrel.

Oil Marketing Companies Yet to Announce Final Prices

Some Oil Marketing Companies (OMCs) have indicated to JoyBusiness that they are likely to adjust their pump prices within the projected margins once the new pricing window takes effect.

Market watchers are particularly waiting to see the pricing decisions of the country’s two largest players, Star Oil and GOIL, whose price adjustments often influence the rest of the market.

Ghana currently has more than 200 licensed Oil Marketing Companies.

New Minimum Price Floors Announced

Meanwhile, the National Petroleum Authority (NPA) has announced new minimum price floors for petroleum products for the second pricing window of March, covering March 16 to March 31.

Under the revised benchmarks:

Petrol price floor has increased from GH¢10.46 to GH¢11.57 per litre

Diesel price floor has risen from GH¢11.42 to GH¢14.35 per litre

LPG price floor has moved up from GH¢9.38 to GH¢10.67 per kilogram

The NPA has directed all Oil Marketing Companies and LPG Marketing Companies to comply strictly with the new price thresholds.

According to the regulator, the approved price floors exclude premiums charged by International Oil Trading Companies as well as margins for Bulk Import, Distribution and Export Companies, marketers, and dealers. These costs will be determined independently by the companies in line with the Petroleum Products Pricing Guidelines.

With the new benchmarks in place, no oil marketing company will be allowed to sell petrol or diesel below the approved price floors during the pricing window.

The revised figures also provide an indication of expected pump prices across the country when the new fuel pricing regime takes effect on March 16.

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11 Lower Primary Pupils Involved in Sprinter Bus Crash with Tipper Truck on Dzorwulu–Accra Mall Road

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A Sprinter bus crash on the Dzorwulu–Accra Mall stretch in Accra has left emergency responders at the scene after a vehicle transporting about 11 lower primary school pupils collided with a loaded tipper truck on Thursday, July 30.

According to the Ghana National Fire Service (GNFS), firefighters were swiftly dispatched to the accident scene to conduct an initial assessment and assist with ongoing emergency operations.

The GNFS disclosed in a social media update that the Sprinter bus carrying approximately 11 lower primary pupils was involved in the collision with the tipper truck. However, authorities have not yet confirmed the number of casualties or disclosed the condition of the children and other occupants.

The cause of the Sprinter bus crash on the Dzorwulu–Accra Mall road has not yet been established. Emergency personnel continued to assess the situation while providing the necessary response at the scene.

The Ghana National Fire Service indicated that further updates will be provided as investigations continue and more information becomes available.

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President to Pay Taxes on Salary and Allowances, Retirement Benefits Remain Tax-Free

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The government has accepted a key recommendation from the Constitutional Review Committee (CRC) requiring the President to pay taxes on salary and allowances while in office, marking a significant step towards promoting accountability and fairness in public office.

Attorney-General and Minister for Justice, Dr Dominic Ayine, announced the decision on Thursday, July 30, during a briefing on the government’s response to the Constitutional Review Committee’s report.

According to Dr Ayine, the government agrees with the principle that the President should no longer enjoy tax exemptions simply because of the office he occupies.

“The Government has accepted the principle that the President should not enjoy tax exemptions by virtue of office alone. The President will pay tax on salary and allowances, as well as the applicable indirect taxes on goods and services,” he stated.

Retirement Gratuity and Pension Exempt

Despite accepting the recommendation for the President to pay taxes on salary and allowances, the government rejected the proposal to tax the President’s retirement gratuity and pension.

Dr Ayine explained that retirement benefits would remain exempt from taxation, while the specific details of the President’s tax obligations would be outlined in future tax legislation.

“The Government has not, however, accepted the proposal to tax the President’s retirement gratuity and pension, and the details of the President’s tax liability will be worked out in the tax laws, where such details belong,” he added.

Constitutional Reforms Underway

The decision forms part of the government’s broader response to recommendations submitted by the Constitutional Review Committee, which was tasked with reviewing Ghana’s 1992 Constitution and proposing reforms to strengthen governance, transparency and public accountability.

The committee’s recommendations are expected to guide future constitutional amendments and legislative reforms following the nationwide constitutional review process.

The government’s acceptance of the proposal requiring the President to pay taxes on salary and allowances is seen as one of several measures aimed at reinforcing public confidence in leadership and ensuring greater equity in the country’s tax system.

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Police reportedly stop funeral vehicle carrying Apostle Kwadwo Safo Kantanka’s body

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Ghana Police Service has reportedly intercepted the hearse designated to transport the body of Apostle Prof. Emeritus Ing. Kwadwo Safo Kantanka from Transitions Funeral Home following a 10-day interim injunction issued by the Accra High Court.

The reported incident occurred on Friday as thousands of mourners gathered at Gomoa Mpota in the Central Region for the scheduled funeral of the founder and leader of the Kristo Asafo Mission.

According to reports circulating on social media and shared by CDR Africa, police officers stopped the hearse from leaving the funeral home in compliance with the court order, which temporarily suspends the funeral and burial arrangements pending the resolution of an ongoing legal dispute.

CDR Africa shared footage of the incident with the caption:

“Police have stopped the hearse meant to transport the body of the late Apostle Prof. Emeritus Ing. Kwadwo Safo Kantanka from Transitions Funeral Home over a court order, while the funeral continues in Gomoa.”

The injunction, granted by the Accra High Court on July 29, 2026, restrains former Dome-Kwabenya Member of Parliament Sarah Adwoa Safo from proceeding with the funeral arrangements until the court determines who has the legal authority to organise the late religious leader’s final rites.

Despite the court order, large crowds of mourners travelled from different parts of Ghana to Gomoa Mpota to honour Apostle Kwadwo Safo Kantanka. Many supporters arrived in organised buses to participate in what had been announced as his final funeral ceremony.

Several prominent personalities were also present at the venue, including actress Mercy Asiedu, fashion entrepreneur Osebo the Zaraman, traditional leaders, members of the Kristo Asafo Mission, family members and admirers.

The High Court’s interim injunction was issued to preserve the status quo while the legal dispute over the funeral and burial arrangements is heard and determined.

As of the time of publication, the Ghana Police Service has not released an official statement regarding the reported interception of the hearse. Likewise, the parties involved in the legal proceedings have yet to publicly comment on the latest development.

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Government moves to revive VALCO, create jobs and restore Ghana’s aluminium industry – Armah-Kofi Buah

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Government moves to revive VALCO:  The government has clarified that it has not sold the Volta Aluminium Company Limited (VALCO), but is instead exploring strategic investment opportunities to revive the company, improve production and create more employment opportunities for Ghanaians.

The Minister for Lands and Natural Resources, Emmanuel Armah-Kofi Buah, made the clarification during a visit to VALCO, where he explained that the government’s priority is to restore the company to its former strength and ensure it contributes meaningfully to Ghana’s industrial development.

According to the Minister, several challenges have affected VALCO’s operations over the years, including outdated equipment, damaged production cells, high operational costs and financial difficulties.

He noted that many of the machines currently being used are old and frequently break down, affecting the quality and quantity of aluminium produced.

The Minister explained that if VALCO continues operating with outdated systems, the company risks losing customers due to concerns about product quality.

He added that the company’s financial situation has also affected its ability to meet obligations, including payments to power producers and suppliers who provide essential services and materials needed for operations.

“Many things have happened, and everyone is giving their own side of the story. But the reality is that the government has assessed VALCO’s situation and is taking steps to change its fortunes,” the Minister said.

He stressed that turning around VALCO requires major investment in modern equipment, improved technology and better management systems to enable the company to produce quality aluminium products that can compete on the global market.

The Minister further explained that the government has created an opportunity for investors who are willing to partner with VALCO and inject the needed capital into the business.

He said such investment will help upgrade the company’s facilities, improve productivity, protect existing jobs and open up new employment opportunities for young Ghanaians.

The Lands Minister dismissed claims that the government has sold VALCO, describing such reports as inaccurate.

He explained that the government’s approach is to find credible partners who can support the revival of the company while ensuring that Ghana continues to benefit from its aluminium resources.

The move, he said, forms part of efforts to restore VALCO’s reputation, strengthen Ghana’s industrial sector and return the company to a position where it can contribute significantly to national development.

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American Citizenship Does Not Shield Ken Ofori-Atta From Extradition to Ghana – Attorney General

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Attorney General and Minister for Justice Dr Dominic Ayine has stated that American citizenship does not shield Ken Ofori-Atta from extradition to Ghana, dismissing claims that the former Finance Minister’s United States citizenship could prevent him from being returned to face trial if required.

Speaking to journalists at the Jubilee House on Thursday, July 30, during a briefing on the Constitution Review Committee Report, Dr Ayine explained that Ghana’s extradition laws apply irrespective of a person’s citizenship status.

“Ken Ofori-Atta was a Minister of State, our former Finance Minister. The fact that a person is an American citizen does not immunise them from extradition,” Dr Ayine said.

He further noted that while no American citizen may have previously been extradited to Ghana, the law permits such action where legal requirements are met.

“American citizens can be extradited to Ghana. The fact that it has never happened doesn’t mean that it cannot happen,” he added.

Dual Citizenship Not a Barrier to Extradition

The Attorney General emphasised that holding dual citizenship does not create a legal obstacle to extradition proceedings.

According to Dr Ayine, even individuals who are not Ghanaian citizens can be extradited to Ghana if they are required to stand trial under the country’s laws.

“The fact that somebody is a dual citizen doesn’t make it difficult, doesn’t put a roadblock on the way to extradition, even if that person is not also a citizen of Ghana. They can be extradited to Ghana to stand trial,” he stressed.

US Immigration Judge Grants Ofori-Atta Adjustment of Status

Dr Ayine’s comments follow a recent ruling by a United States immigration judge granting Ken Ofori-Atta an adjustment of status, allowing him to remain legally in the United States.

In the decision, Judge David Gardey ruled that the former Finance Minister’s positive personal circumstances outweighed concerns arising from the criminal allegations brought against him in Ghana.

The court considered Ofori-Atta’s longstanding ties to the United States, including his education, professional career with financial institutions such as Morgan Stanley and Salomon Brothers, as well as his family connections, including a son who is a US citizen.

Judge Gardey also took into account Ofori-Atta’s ongoing medical treatment, noting that his health had deteriorated following his detention in connection with the criminal allegations.

“The court finds that the positive equities far outweigh the negative equities such that the court will exercise its discretion and grant the respondent’s request for adjustment of status,” Judge Gardey ruled.

The judge further acknowledged the challenges Ofori-Atta had experienced and concluded that he had demonstrated sufficient grounds to remain in the United States under the adjustment process.

Ghana Maintains Extradition Option

Despite the US immigration ruling, the Attorney General insisted that American citizenship does not shield Ken Ofori-Atta from extradition to Ghana if the country’s legal processes require his return.

Dr Ayine maintained that Ghana remains entitled to pursue extradition in accordance with international legal procedures should the former Finance Minister be required to appear before the courts.

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