Former Finance Minister, Dr Mohammed Amin Adam, has argued that reducing taxes on petroleum products would not disrupt Ghana’s 2026 fiscal plan.

His comments come amid growing calls from transport operators, civil society organisations, and driver unions—including the Ghana Private Road Transport Union (GPRTU)—for the removal of the GH¢1 levy on every litre of fuel. The groups warn that retaining the charge could trigger an increase in transport fares, as operators may be forced to pass on the additional cost to commuters.

Although government officials maintain that it may be too early to scrap the levy, Dr Amin Adam, in a Facebook post on April 2, said current global oil market conditions provide sufficient room for tax relief.

He explained that Ghana is already benefiting from higher-than-expected crude oil prices, largely driven by ongoing tensions in the Middle East.

According to him, the 2026 Budget was based on a benchmark oil price of $76.22 per barrel and projected production of 37.95 million barrels. However, crude prices have exceeded $100 per barrel for much of March 2026.

He noted that the surge is generating substantial additional revenue for the country, estimating a windfall of over GH¢8 billion this year.

Dr Amin Adam argued that any revenue shortfall resulting from cuts in petroleum taxes could be offset by these gains from crude exports. He described the growing calls for fuel tax reductions as justified.

He therefore urged government to act swiftly to ease the burden on consumers grappling with rising fuel prices.