Energy Ministry: Fuel levy delay due to Iran-Israel conflict, rising oil prices
The Ministry of Energy and Green Transition has confirmed that the implementation of the Energy Sector Levies (Amendment) Act, 2025 (Act 1141), which would have introduced a GH₵1 increase on petrol and diesel prices and a 20 pesewa rise on gas, has been postponed.
Richmond Rockson, the Spokesperson and Head of Communication for the Ministry in an interview on the on Saturday June 14, explained that the decision is influenced by recent fluctuations in global oil prices.
He stated, “I can confirm that the government of Ghana, as issued by the GRA, has postponed the implementation of the Energy Sector Levies (Amendment) Act, 2025 (Act 1141). This levy is what has introduced GH₵1 on petrol, GH₵1 on diesel, and 20 pesewas on gas. So, yes, I can give you that confirmation.”
Rockson attributed the postponement to a combination of factors, including a recent surge in international oil prices and the government’s commitment to shielding consumers from sudden price hikes.
He noted, “From February till date, a windfall was experienced on the fuel market as a result of the prudent management of the exchange rates, which has brought fuel prices from an average of GH₵17 to an average of GH₵11 or GH₵12, depending on which Oil Marketing Company (OMC) you buy from.”
However, Rockson highlighted that in the past 72 hours, oil prices on the international market have increased due to geopolitical tensions, particularly the conflict between Israel and Iran.
He explained, “In fact, the last three days, if you check crude oil prices on the international market, it moved from $60 to $74, and this is the highest we’ve seen in the past five months. This has also caused some disruptions in our pricing module.”
He further emphasised that the government is closely monitoring these developments. “The President has directed the Ministers of Energy and Finance to keep monitoring the situation. So, they will keep monitoring, and as and when the factors look favorable, definitely, a new date will be announced,” he added.
