Government Spokesperson Felix Kwakye Ofosu has indicated that the government may review fuel taxes and levies if rising global oil prices begin to place excessive pressure on consumers.

Speaking on JoyNews' The Pulse, Mr. Kwakye Ofosu explained that fuel pricing in Ghana is determined by three key factors: international market prices, taxes and levies, and the exchange rate.

He noted that while global oil prices are beyond the control of government, authorities retain the ability to adjust domestic tax components to cushion the impact on Ghanaians.

According to him, any such intervention would be considered only if external shocks—such as a prolonged conflict in the Middle East—lead to sustained increases in fuel prices on the world market.

“If the world market price rises to a point where it imposes too much of a burden, government will have to keep the other components flexible to cushion the effect,” he stated.

Mr. Kwakye Ofosu stressed that the potential review of fuel taxes is not automatic but will depend on how geopolitical developments evolve and the extent to which they influence global oil prices.

His comments come amid growing concerns that escalating tensions in the Middle East could disrupt supply chains and drive up crude oil prices, with ripple effects on fuel costs in import-dependent economies like Ghana.

Already, fuel prices are set to rise sharply from April 1, 2026, with petrol and diesel expected to surge at the pumps.

Mr Kwakye Ofosu stressed that any move by government would be guided by developments on the global market, especially the impact of geopolitical tensions on crude oil prices.

“All considerations are on the table, but it will depend on developments,” he said.

According to him, the decision will ultimately be based on what best cushions consumers while balancing the state’s fiscal needs.