Mahama Convenes Emergency Cabinet Meeting as Fuel Prices Surge Amid Middle East Tensions

President John Dramani Mahama has called an emergency Cabinet meeting to address the sharp rise in fuel prices, as escalating tensions in the Middle East continue to drive up global petroleum costs and impact Ghana’s economy.

Speaking on the second day of the Kwahu Business Forum 2026 on Saturday, April 4, the President said the high-level meeting would focus on identifying immediate and practical measures to cushion consumers from the effects of rising fuel prices.

“I have called for this emergency Cabinet meeting to decide on specific interventions to stabilise petroleum prices while we anticipate an end to the conflict. There are adjustments we can make, particularly within pricing margins, to help maintain relative stability,” he stated.

President Mahama reaffirmed government’s commitment to mitigating the impact on households and businesses, noting that Cabinet will undertake a comprehensive review of the fuel price structure and explore targeted relief options.

“The government remains fully committed to easing the burden on citizens. Cabinet will examine the various components of the fuel price build-up and consider interventions to provide relief,” he added.

Fuel prices have recorded significant increases since April 1, with petrol rising by approximately 15 per cent to about GH¢13.30 per litre, while diesel has surged by nearly 19 per cent to around GH¢17.10 per litre, according to figures from the National Petroleum Authority. The hikes—among the steepest in recent months—have been attributed largely to rising global crude oil prices and supply disruptions linked to the ongoing conflict involving Iran and the broader Middle East.

Despite the developments, the President sought to reassure Ghanaians of the economy’s resilience. “I can confidently assure you that the economy will not collapse because of the war in Iran,” he said.

He also commended transport operators for maintaining current fares despite the rising cost of fuel, describing their restraint as crucial in preventing a broader increase in the cost of living.

“I wish to express my sincere appreciation to the transport unions for their patience and understanding. Although this situation was unforeseen, they have refrained from increasing fares, and I am confident they will continue to cooperate as we work to stabilise the situation,” he noted.

The latest fuel price adjustments have heightened concerns over inflation, particularly in transport and food costs, although relative stability in the cedi has helped to moderate the overall impact.

Government is reportedly considering a range of policy options, including adjustments to fuel margins and levies, as part of efforts to stabilise prices amid ongoing global uncertainty.