Ghana holds 6 weeks of fuel reserves amid global oil price rise

President John Mahama has assured Ghanaians about the country's fuel supply. He said Ghana has enough petroleum reserves to last six weeks. This statement came as global crude oil prices increased due to the conflict in Iran.

Speaking at the 2026 Kwahu Business Forum, President Mahama said the government is also working to get more fuel. He wants to protect Ghanaians from the effects of the global oil shock. The President noted that Ghana has six months of export cover and six weeks of petroleum stocks.

Fuel prices in Ghana went up on April 1, 2026. Petrol prices increased by about 15% to GHS13.30 per litre. Diesel prices rose by about 19% to GHS17.10 per litre. These increases are among the largest recently. They are due to higher global oil prices and supply problems from the Middle East.

The rising prices have caused concerns about higher transport costs and overall inflation. President Mahama has called an urgent cabinet meeting. The meeting will look at ways to lower fuel prices for consumers. Options include adjusting fuel margins and levies.