Mahama: New Fuel Levy Won't Cause Immediate Price Hikes in Ghana

Ghana's New Fuel Levy: Mahama Assures No Immediate Price Hike Ghana's President John Mahama recently addressed the nation regarding the newly implemented fuel levy. He stated that the current macroeconomic stability and recent strengthening of the Ghanaian cedi mean that this levy will not immediately translate into higher fuel prices at the pump. This announcement comes as a relief to many Ghanaians concerned about the potential impact on their cost of living. "With the recent gains in macroeconomic stability and strengthening of the Ghanaian cedi, this levy is not expected to result in any immediate fuel price increases at the pump," President Mahama stated. The government plans to use the revenue generated from the levy to address accumulated debts within the power sector and ensure a stable supply of electricity. This strategy aims to improve the nation's energy infrastructure and reduce reliance on liquid fuels. While the long-term effects of the levy remain to be seen, President Mahama's statement offers short-term reassurance to the public.