President John Dramani Mahama convened an emergency cabinet meeting to address a sharp rise in fuel prices, citing the ongoing conflict in Iran and broader Middle East tensions as key drivers of the spike.
Speaking Saturday at the second day of the Kwahu Business Forum, Mr. Mahama said the meeting would explore practical measures to shield Ghanaians from higher petroleum costs. “We are examining adjustments, particularly in the margins, to help maintain relatively stable prices while hoping for an end to the conflict,” he said.
The president emphasized that the government remains committed to easing the financial burden on citizens and will assess interventions to stabilize the fuel market. He reassured the public that Ghana’s economy is resilient enough to withstand external shocks, including rising crude prices linked to Middle East instability. “I can confidently tell you that the economy will not collapse because of the war in Iran,” Mr. Mahama said.
He also praised transport unions for exercising restraint by not increasing fares despite surging fuel costs, calling their patience “commendable” as the government implements mitigation measures.
Fuel prices in Ghana rose sharply from April 1 following a surge in global crude oil prices driven by the escalating Iran conflict, adding pressure to households and businesses nationwide.
Source:TheDotNews