COMAC clarifies Uniform Pricing Fund is not a fuel subsidy
Dr Riverson Oppong says the new fund equalises fuel prices nationwide and is not a direct government subsidy.
The Chamber of Oil Marketing Companies (COMAC) has clarified that the proposed Uniform Pricing Policy Fund does not function as a fuel subsidy. CEO Dr Riverson Oppong explained that the fund’s purpose is to equalise pump prices across Ghana, ensuring the same price whether one buys fuel in Tamale, Kumasi or Accra.
He noted that many countries charge higher prices for inland distribution, but Ghana’s arrangement prevents such regional disparities. The fund therefore levels the playing field for all oil marketing companies.
Dr Oppong stressed that the fund should not be seen as a drain on government revenue. While it involves state intervention, the true fiscal burden lies in existing taxes and levies on petroleum products.
He pointed out that Ghana has long advocated freezing certain levies to protect consumers, yet the current rise in fuel prices continues to strain household budgets. The CEO welcomed government’s recent price‑capping measures, describing them as valuable support for the industry.
According to Oppong, surplus revenue from Ghana’s upstream oil sector could be redirected to cushion the downstream market. He suggested that an additional $20 million might help ease the pressure on fuel dealers who are currently operating at a loss.
He called for a dialogue on sharing this extra income, asking how the nation can move beyond a situation where upstream players profit while downstream operators struggle.
The Chamber also used the platform to criticize recent government interference in fuel pricing and to demand full deregulation of the sector, arguing that market forces should determine pump prices.
COMAC has published several statements on the issue, warning that without deregulation and tax relief, the industry will continue to bleed while the state benefits.
The organization has highlighted the need for a sustainable financing model that does not rely on direct subsidies but instead uses fiscal tools such as tax adjustments to protect consumers.
