COMAC Calls for Fuel Tax Freeze to Protect Consumers

The Chamber of Oil Marketing Companies (COMAC) has urged the government to impose a temporary freeze on fuel taxes and levies as a means of protecting consumers from escalating fuel prices.

Dr Riverson Oppong, the Chief Executive Officer of COMAC, stated that the current surge in global oil prices has heightened financial pressure on households and businesses alike. He argued that reducing the tax burden would offer a more sustainable solution than repeated subsidy interventions.

According to Oppong, the Uniform Pricing Policy Fund plays a key role in maintaining consistent fuel prices nationwide, ensuring that consumers in locations such as Tamale, Kumasi and Accra pay the same rate. He clarified that the fund does not diminish government revenue but rather guarantees equitable pricing across the country.

Oppong emphasized that the true strain on public finances stems from the taxes and levies imposed on petroleum products rather than from subsidy payments. He pointed out that while government interventions can provide short‑term relief, they do not address the underlying structural pressures on the downstream petroleum sector.

The CEO renewed his appeal for a temporary suspension of certain fuel taxes, noting that repeated calls for a one‑cedi tax freeze have so far gone unmet. He expressed appreciation for existing government measures aimed at cushioning consumers but stressed that further action is needed to safeguard industry sustainability.

Oppong highlighted that Ghana’s status as an oil‑producing nation creates an opportunity to redirect unexpected gains from crude oil production toward supporting the downstream sector. He suggested that dialogue between stakeholders could facilitate the sharing of surplus revenues to bridge the gap between upstream and downstream operations.

In his view, such a strategy would help prevent the downstream segment from facing financial distress while the upstream sector benefits from higher profits. He proposed that the government convene discussions with industry players to explore mechanisms for allocating additional earnings to stabilise the entire petroleum value chain.