New data from the Ghana Statistical Service’s (GSS) 2025 Annual International Merchandise Trade Statistics Report have disclosed that diesel and petrol remained Ghana’s largest imported commodities in 2025.

According to the report, the Tema Oil Refinery (TOR) was Ghana’s single largest import, valued at GH¢28.46 billion and accounting for 11.2 percent of the country’s total import bill.

The report added that despite ongoing efforts to strengthen domestic refining capacity and improve the external trade balance Ghana continue to depend on imported petroleum products.

Imports of light oils, including premium motor spirit (petrol), reached GH¢23.24 billion in 2025, making them the second-largest import category and accounting for 9.2% of Ghana's total imports.

Ghana’s total import bill reached GH¢253.23 billion in 2025. Meanwhile, President Mahama on Monday, August 3 ordered the National Petroleum Authority (NPA) to offer GHC 2 relief on every litre of diesel effective Tuesday, August 4.

Reacting to the intervention, on Monday night during an interview on JoyNews, Deputy Public Relations Officer of the GPRTU, Samuel Amoah, expressed appreciation to government for the GHC 2 cut but indicated that the current cost of fuel remains significantly higher than when discussions on transport fare adjustments began.

Meanwhile, the Ghana Private Road Transport Union (GPRTU) have expressed their dissatisfaction over the government’s GH¢2 per litre diesel subsidy, insisting the relief does little to nothing to the sharp rise in fuel prices.

Speaking on JoyNews, Mr Amoah recalled that transport operators were asked by the Transport Ministry to suspend plans for a 30% fare increase after government indicated that measures would be introduced to reduce fuel prices.

"We were asked to hold on because they promised that the government was going to work on the fuel price and that the next price would come down and all that. By then the diesel was around GH¢17, then petrol was around GH¢15. We were expecting a reduction," he stated.

Mr Amoah continued that their earlier proposed 10% transport fare hike, which was eventually rescinded, was due to the government’s promise to offer a relief when diesel was GH¢17.67. This means that the GH¢2 intervention only brings prices back closer to previous levels rather than delivering a substantial reduction.

"But now during this price window, diesel is approaching GH¢20 a litre. So because government is taking GH¢2 from the diesel, it means it is coming back to where it was, and that will not have any significant effect on us," Mr Amoah argued.

He continued that the recent subsidy may only avert future increases in transport fares, but the recently proposed 30% hike by his outfit may happen. However, he added that they may reconsider the percentage."What will happen is if we are to increase the fares, maybe the percentage that we were proposing is something that we may consider bringing it down," he said.

Mr Amoah maintained that commercial transport operators continue to face significant cost pressures and will assess the impact of the government's intervention before deciding on the next steps regarding fares.

Transport operators engaged the Ministry of Transport on Tuesday, July 28, to discuss a proposed 30% increase in transport fares amid rising fuel prices and the increasing cost of vehicle spare parts.

The last time transport operators formally proposed a fare hike before this July 2026 meeting was in March 2025, when the Ghana Private Road Transport Union (GPRTU) and the Ghana Road Transport Coordinating Council (GRTCC) announced a 20% fare increase.

Their reasons for the hike remain the same; however, this time around they are proposing a 10% increase in addition to their earlier proposal.The proposed 30% fare increase was announced by the Ghana Private Road Transport Union’s (GPRTU) Deputy Public Relations Officer, Samuel Amoah, in an interview with Citi FM on Monday, July 27, ahead of today's scheduled meeting with the Ministry of Transport.

He explained that if the government is unable to introduce immediate measures to address the rising cost of petroleum products, the unions will present their proposed fare increase for discussion.

“If they believe there is nothing they can do about the high cost of petroleum products, we will lay our proposed percentage on the table for negotiation. Whatever agreement we reach, we will communicate to our members,” he said.

The unions are expected to present their concerns to the government and explore possible measures to ease the financial pressure on transport operators.