President has ordered the removal of taxes on petroleum products following a sharp rise in global fuel prices. The directive came after an emergency Cabinet meeting on April 9, aimed at easing the burden on Ghanaians.
The surge in fuel costs is largely linked to disruptions caused by the Iran conflict, especially the closure of the , a vital global oil route. This has significantly affected supply worldwide.
Mahama has tasked Finance Minister and Energy Minister to work with industry stakeholders and implement tax cuts within a week.
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The move is expected to take effect by April 15 and could help stabilize transport fares and living costs. Rising fuel prices had already triggered concerns from transport unions, warning of possible fare increases across the country.
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