The Institute for Energy Security (IES) has called on the government to urgently introduce measures to protect consumers from the recent increase in petroleum product prices across the country.
According to the energy think tank, the continuous rise in fuel prices is creating financial difficulties for households, businesses, and transport operators, with wider effects on the economy.
IES explained that fuel remains a major input in key sectors such as transportation, agriculture, manufacturing, and commerce. It warned that increases at the pumps usually lead to higher transport fares, rising food prices, increased production costs, and additional inflationary pressures.
In a statement issued on August 3, 2026, the institute said the impact of fuel price increases was reducing the purchasing power of Ghanaians and placing extra pressure on small and medium-sized businesses.
Although the IES acknowledged that petroleum prices are affected by global crude oil prices, exchange rate movements, and the country’s fuel pricing system, it argued that government must take steps when external factors begin to negatively affect citizens.
The institute recalled that earlier this year, government absorbed about GH₵2 per litre of fuel costs through policy interventions to reduce the burden on consumers.
It said that move showed the importance of government action during periods of price instability.
IES believes the current situation requires a similar response and urged government to engage relevant stakeholders and consider introducing relief measures to reduce the impact of the latest price increases.
The institute also called for stronger efforts to stabilise the Ghana cedi, noting that exchange rate depreciation remains one of the major factors contributing to rising fuel prices in the country.
