John Abdulai Jinapor is the Minister of Energy
The Spokesperson and Head of Communication for the Ministry of Energy and Green Transition, Richmond Rockson, has shared insights regarding the government’s postponement of the GH¢1 fuel levy.
According to him, the postponement was necessitated by the global rise in fuel prices triggered by the conflict between Israel and Iran.
Rockson explained that the government made the decision in order to preserve the economic gains achieved from the steady decline in fuel prices and to prevent a sudden spike.
“The factors that led into it is that from February to date, windfall was experienced on the fuel market as a result of the prudent management of the exchange rate, which has brought fuel prices from an average of GH¢17 to an average of GH₵11 or GH₵12, depending on which Oil Marketing Company (OMC) you buy from,” he said while speaking on Channel One on June 14, 2025.
He continued; “The last 72 hours, the oil prices on the international market have gone up. If you look at Brent, which is normally the benchmark, has gone up by about 70 percent, trading around $74 per barrel, which should be the highest since February. This is a result of the conflict between Iran and Israel, which has moved prices up the international market.”
Rockson also confirmed the postponement of the levy’s implementation, which has faced considerable criticisms from sections of the public.
He added that the government, through the Ministries of Finance and Energy, is closely monitoring developments in the international fuel market.
“Yes, I can confirm that the government of Ghana, as issued by the Ghana Revenue Authority, has postponed the implementation of the Energy Sector Levies Amendment Act 2025, Act 1141. This levy is what has been introduced [as] GH¢1 on petrol, GH¢1on diesel, and 20pesewas on gas.
“So, the government’s decision as directed by the president today, is that the Minister of Energy and Green Transition, as well as the Minister of Finance, should monitor international markets to ensure that the gains that have been made on fuel prices and the pump will not be eroded. So, these are the factors that have gone into the decision,” he added.
MAG/AE
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