Mahama assures Ghanaians of fuel security despite Iran conflict

President John Dramani Mahama has moved to calm public anxiety over a possible fuel shortage, assuring that Ghana has enough petroleum reserves to last up to six weeks despite ongoing tensions in the Middle East.

Speaking at the 2026 Kwahu Business Forum in Mpraeso in the Eastern Region, the President stated emphatically that the country faces no immediate risk of running out of fuel. He noted that government continues to take proactive steps to shield citizens from the impact of global economic shocks.

According to him, while external disruptions such as the conflict between Iran and Israel are unpredictable, Ghana’s economy has demonstrated resilience.

“As we have always said, shocks will come and you cannot always predict these external events. However, you must build an economy that is resilient enough to withstand them,” he said.

President Mahama further disclosed that Ghana currently has six months of export cover alongside its petroleum reserves, adding that stocks are continuously being replenished even as they are utilised.

“We have six months of export cover and six weeks of petroleum stocks, so there is no danger of us running out of petroleum products,” he assured.

Addressing concerns over rising fuel prices, the President revealed that he has convened an emergency Cabinet meeting to deliberate on measures aimed at cushioning consumers.

He indicated that government is considering adjustments within the fuel pricing structure, particularly margins and levies, to help stabilise prices while the conflict persists.

“The Cabinet will examine various aspects of the fuel price build-up and consider interventions to provide relief,” he stated, reaffirming government’s commitment to easing the burden on citizens.

Fuel prices in Ghana saw sharp increases from April 1, 2026, following the escalation of the Middle East conflict. Data from the National Petroleum Authority shows that petrol prices rose by about 15 percent to approximately GH¢13.30 per litre, while diesel increased by around 19 percent to GH¢17.10 per litre for the April 1–15 pricing window.

The hikes, among the steepest in recent months, have been driven largely by rising global crude oil prices and supply disruptions linked to the conflict. Although the relative stability of the Ghanaian cedi has helped soften the impact, concerns remain over increased transportation costs and inflationary pressures.

President Mahama reiterated that his administration remains focused on building a resilient economy capable of withstanding such external shocks, stressing that the ongoing conflict will not derail Ghana’s economic stability.