Ghana lowers fuel prices to protect customers amid Middle East conflict

Ghana's government announced on Wednesday temporary measures to cushion consumers against rising fuel prices, driven by the Middle East conflict.

• The government will absorb 2.00 cedis ($0.1812) per litre on diesel and 0.36 cedis per litre on petrol, government spokesperson Felix Kwakye Ofosu said in a statement.

• The government and stakeholders held consultations to remove some fuel taxes and charges levied along the supply chain by distributors and retailers.

• The measure takes effect on April 16 and will last one month, subject to review.

• The government says the move is part of efforts to maintain price stability and support economic recovery.

• According to Ghana's state-owned oil marketing company GOIL, a litre of petrol currently costs 13.30 cedis ($1.20) while a litre of diesel is worth 17.10 cedis.

• Authorities will monitor global market developments and consider further action if needed, the statement said.

($1 = 11.0400 Ghanian cedi)

-Emmanuel Bruce/Reuters