The New Patriotic Party’s Energy Policy Committee has warned that the government’s approach to fuel-price relief could create a fresh Ghana fuel intervention debt, with more than GH¢500 million allegedly being withheld from petroleum-sector institutions every month.
In a statement signed by NPP Policy Co-ordination Committee Chairman Kojo Oppong Nkrumah, the party said it supported measures to protect consumers from rising prices caused by the conflict in the Gulf. Its concern is how the current GH¢2 per litre diesel intervention is being financed.
According to the committee, the reduction has been sustained by suspending statutory margins meant for the Bulk Oil Storage and Transportation Company, petroleum distributors, fuel-marking activities and the Unified Petroleum Price Fund.
“Government is accumulating debt to BOST and other key players under the guise of intervention,” the statement said.
The government has previously defended its temporary diesel intervention as a measure to cushion consumers against elevated international petroleum prices. The NPP raised similar questions about its funding structure when the policy was announced in August.
Committee estimates GH¢2.08bn withheld
The committee estimated the direct monthly value of the suspended margins at GH¢519.12 million, based on average diesel consumption of about 259.56 million litres.
It said the wider burden rises to nearly GH¢683 million when the implied support to the UPPF is included. Across April, May, August and September 2026, approximately GH¢2.076 billion may have been withheld from institutions and service providers within the petroleum downstream, the party claimed.
Those obligations do not disappear when their revenue streams are suspended, the committee argued. Storage tanks, pipelines and depots still require maintenance, while distributors and fuel-marking companies must continue operating.
“A margin suspended today becomes arrears tomorrow and public debt the day after,” the statement said.
The party fears the missing revenue will surface through supplier arrears, institutional borrowing, deferred maintenance and underinvestment. Government may then have to recapitalise affected institutions, effectively transferring the cost to the national budget.
Rising prices test intervention
The warning comes as international petroleum prices rise again. The committee’s data for the September 16 to September 30 pricing window showed crude oil increasing from US$92.11 to US$98.18 per barrel.
International petrol prices reportedly rose by 14.57%, while diesel and liquefied petroleum gas increased by 4.85 and 13.47%, respectively. The cedi also weakened from GH¢11.40 to GH¢11.50 against the dollar.
The NPP said diesel could cross GH¢18 per litre even with the intervention. Without it, the underlying pump price could move above GH¢20.
That leaves the government with an awkward choice. Extending the measure protects motorists today but increases the amount denied to downstream institutions. Ending it could expose consumers to both higher international prices and the restoration of the suspended margins.
The committee wants the government to restore the margins, publish the intervention’s full cost and prevent short-term relief from becoming another long-term energy-sector liability.
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