Global Energy Price Surge: The impact on Ghana’s economy
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Ghana's economy is feeling the impact of the global energy price surge, with crude oil prices above $100 per barrel. The government has cut taxes and levies to cushion consumers, but economists warn of fiscal trade-offs and potential inflation risks.
Ghana's economy is affected by the global energy price surge. Crude oil prices have risen above $100 per barrel, impacting the country's revenue and household budgets. The National Petroleum Authority has raised fuel prices, with petrol up 15% and diesel up 19%. The government has cut taxes and levies to ease the burden on consumers. Ghana's external vulnerability has narrowed, with the Tema Oil Refinery resuming operations in December 2025. Despite the fuel shock, headline inflation fell to 3.2% year-on-year in March 2026.
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