The Chamber of Petroleum Consumers (COPEC) has urged government to establish a strategic petroleum reserve as a more sustainable alternative to repeatedly cutting taxes whenever fuel prices rise.

Speaking on Adom FM’s Dwaso Nsem, COPEC Executive Secretary Duncan Amoah said constantly relying on tax reductions is not a long-term solution to fuel price pressures.

He argued that Ghana needs a structured system where a portion of petroleum products is reserved during periods of lower prices to cushion the market when international prices spike.

“A government should have a strategic reserve programme,” Amoah said. He explained that setting aside products over time would allow the country to supply the market at more stable prices during difficult periods without always turning to tax interventions.

According to him, such a system would give government more room to manage price shocks instead of reacting only when prices threaten to rise sharply.

Amoah noted that while short-term measures may provide temporary relief, building a proper reserve would offer a more reliable buffer for the economy and consumers in the long run.

He maintained that Ghana needs a more strategic and forward-looking approach to petroleum pricing rather than depending mainly on tax adjustments.