The government has extended its GH¢2 per litre reduction in the regulatory margin on diesel into the first pricing window of September, in a move aimed at cushioning consumers against rising fuel prices.
A high-placed government source confirmed the decision to Myjoyonline.com, saying the intervention followed concerns over a possible increase in diesel prices at the pumps in the coming pricing window.
The reduction, which was introduced as a temporary measure covering two pricing windows, was originally expected to expire at the end of August.
However, the government has decided to maintain the GH¢2 reduction for at least one additional pricing window, preventing the full regulatory margin from being restored to the price of diesel.
Diesel is currently selling at around GH¢17 per litre at most Oil Marketing Companies (OMCs).
The extension is expected to provide some relief to motorists, commercial transport operators and businesses that rely heavily on diesel, particularly amid elevated international crude oil prices.
The government introduced the reduction on August 4 following a surge in global oil prices.
The latest decision represents the third intervention by the government to cushion consumers against rising fuel prices.
Source: Myjoyonline.com
