President John Dramani Mahama has reaffirmed that the newly introduced GHS1 fuel levy hike will not trigger an immediate increase in fuel prices at the pump, citing Ghana's improving macroeconomic stability and a stronger cedi as key factors mitigating its impact.
Speaking at the Jubilee House on Wednesday, June 4, during the presentation of the National Economic Dialogue Committee's final report, President Mahama acknowledged public concerns but emphasised that the levy was a necessary step to secure the country's energy future. "With the recent gains in macro stability and the strengthening of the Ghana cedi, this levy is not expected to result in immediate fuel price increases at the pump," he assured.
While recognising the financial strain the levy may impose on households and businesses, the President stressed that the decision was made with careful deliberation. "We are fully aware of the burden this will place on households and businesses, but I want to assure Ghanaians that this decision was not taken lightly," he stated.
The GHS1 fuel levy, introduced under the Energy Sector Levy (Amendment) Bill, 2025, is expected to generate GHS5.7 billion annually.
