The Ministry of Energy and Green Transition has announced the postponement of the new fuel levy under the Energy Sector Levies (Amendment) Act, 2025 (Act 1141), which was initially scheduled to take effect on June 16. The deferment follows a directive from President John Dramani Mahama, asking the Ministers of Energy and Finance to continue monitoring global developments before setting a new implementation date.
According to the Ministry’s Public Relations Officer, Richmond Rockson, the government is prioritizing price stability at the pumps and will only introduce the levy when conditions are deemed favourable. He confirmed that the levy, which introduces a charge of GHS1 on petrol, GHS1 on diesel, and 20 pesewas on LPG, has been officially postponed by the Ghana Revenue Authority (GRA).
Mr. Rockson explained that from February to early June 2025, Ghana experienced significant relief at the pump, with fuel prices dropping from GHS17 to as low as GHS11–12 per litre. This reduction was attributed largely to effective exchange rate management and favorable market dynamics. However, he indicated that these gains are now at risk due to sharp upward movements in global crude oil prices.
In just three days, international crude oil prices have jumped from $60 to $74 per barrel, marking the highest spike in the past five months. The surge is a result of escalating tensions between Iran and Israel, which have rattled global energy markets. Mr.Rockson added that the rapid price shift is already disrupting Ghana’s private supply arrangements, reinforcing the need for a cautious approach.
The Ministry maintains that while the levy remains a key component of Ghana’s broader energy financing strategy, its timing must not undermine current efforts to ease cost-of-living pressures. A new effective date will be announced once global oil market trends stabilize and domestic conditions allow.