GHS1 fuel levy hike won’t affect pump prices – Mahama

President John Dramani Mahama has assured Ghanaians about the new GHS1 fuel levy. He stated it will not cause an immediate increase in fuel prices at the pump.

The President addressed concerns after implementing the levy. He highlighted improvements in Ghana’s macroeconomic stability and a stronger cedi. These factors will help keep fuel prices stable in the short term.

“Recent gains in macro stability and a stronger cedi mean this levy won’t lead to immediate price increases,” he said. This statement was made during the National Economic Dialogue committee's final report presentation at Jubilee House on June 4.

Mahama acknowledged that the levy may strain households and businesses. However, he emphasized that this decision was made with careful consideration. “We understand the burden this places on families and businesses,” he added.

The GHS1 fuel levy aims to address energy sector debt and ensure stable power supply. It is expected to generate GHS5.7 billion annually. The government promises that all revenue from this levy will be used for specific energy-related purposes, including debt repayment and fuel procurement.