GH¢2 diesel price cut shows gov’t is cushioning consumers –CEO of NPA, Godwin Edudzi

The Chief Executive Officer of the National Petroleum Authority (NPA), Godwin Edudzi Tamakloe, has defended the government’s decision to reduce the price of diesel by GH¢2, arguing that the intervention demonstrates a commitment to protecting consumers amid rising global fuel market pressures.

Mr Tamakloe said the government could have allowed international market conditions to fully reflect at the pumps but instead took steps to reduce the impact on drivers and businesses.

The NPA CEO said the intervention was evidence that President John Dramani Mahama’s administration was actively seeking solutions rather than leaving citizens to absorb the full impact of global price increases.

“The President has asked the agency responsible or the authority responsible for regulating the downstream to come up with a solution to cushion the impact on Ghanaians,” he said.

Mr Tamakloe argued that the current fuel price challenges are largely influenced by international market conditions, including rising prices of imported petroleum products.

He cited the increase in global diesel prices, noting that a metric tonne of diesel had risen significantly within months.

“Before this war, a metric tonne was going for $794. As of the 29th day of July, that same metric tonne is now traded at $1,333,” he said.

According to him, the government’s decision to reduce diesel prices by GH¢2 was taken despite these external pressures.

“The President is not telling Ghanaians that you are on your own. There is clear evidence of thinking outside the box,” Mr Tamakloe stated.

He explained that fuel pricing is influenced by several components, including the international cost of petroleum products, exchange rates and other charges within the pricing framework.

Mr Tamakloe maintained that the government’s intervention should be viewed within the context of efforts to minimise the impact of global fuel market volatility on Ghanaian consumers.