The Chamber of Oil Marketing Companies (COMAC) is calling for a further intervention to cushion petrol users, saying a reduction of at least GH¢1 per litre would provide relief as the government maintains its support for diesel consumers.
The call was made by the Chief Executive Officer of COMAC, Dr Riverson Oppong, who said petrol users should also benefit from measures to ease the impact of rising petroleum product prices.
Speaking on Eyewitness News on Monday, August 31, 2026, Dr Oppong said the government’s intervention on diesel was justified because of its direct impact on commercial transport operators and industries.
“But yes, I mean, at least one Cedi would have helped, right? To also relieve those of us who are on petrol,” he said.
The government’s intervention on diesel involves a GH¢2 per litre reduction in the regulatory margin, a move Dr Oppong said would inevitably affect some institutions and their operations.
He said the government could consider additional measures, including temporary tax relief, if it wanted to provide further support to consumers.
“If government can say, if this extra one is added, can I take it off for this time being? That would be brilliant. I mean, very applaudable,” Dr Oppong said.
However, he acknowledged that the government would have to weigh such a decision against its revenue needs.
“We understand that there is too much demand on government revenue. So, they cannot touch government taxes. That’s what I know. So, that’s for the government to decide,” he said.
His comments come as petrol and diesel prices are projected to increase by 4.80% and 2.10%, respectively, from September 1, according to the latest pricing outlook by COMAC.
Dr Oppong said the projected increases were largely being driven by higher international petroleum product prices, despite the appreciation of the Ghana Cedi.
“One may argue we saw the Cedi appreciating by 30%, but at the same time petrol price increased on the world market by roughly 8% and diesel by 6%,” he said.
He explained that international benchmark prices continue to influence petroleum prices, including products refined locally.
“Every refinery will trade with the benchmark price. Other than that, then there’s no economics,” he said.
Dr Oppong said the government would therefore have to consider whether to extend its intervention to petrol users, particularly as they brace for higher pump prices.
He maintained that even a modest reduction would help cushion petrol users against the expected increase in fuel prices.
Source: Citi Newsroom
