Petrol and liquefied petroleum gas (LPG) prices could decline at the pumps from November 1, 2026, while diesel prices may rise marginally following adjustments to the National Petroleum Authority’s (NPA) price floors.
Market data obtained indicates that the petrol price floor has been reduced from GH¢16.09 to GH¢15.39 per litre for the November 1–15 pricing window.
The diesel floor, however, has increased from GH¢17.09 to GH¢17.41 per litre, while that of LPG has declined from GH¢13.89 to GH¢13.73 per kilogram.
The price floors represent minimum pricing benchmarks and not final retail prices. They exclude premiums charged by International Oil Trading Companies, operating margins of Bulk Import, Distribution and Export Companies, and margins applied by Oil Marketing Companies (OMCs) and LPG Marketing Companies.
The NPA said the respective companies would independently determine these charges under the prescribed Petroleum Products Pricing Formula.
Consequently, the adjustments could result in mixed price movements at the pumps, depending on the pricing decisions of individual marketers.
One major oil marketing company currently sells petrol at GH¢16.45 per litre and diesel at GH¢17.95 per litre.
While the lower petrol and LPG floors could create room for reductions, some marketers may maintain existing prices, depending on their operating costs and margins. The higher diesel floor, meanwhile, points to possible upward pressure on retail prices.
The adjustments come against a backdrop of rising international crude oil prices, although recent movements in the cedi could help cushion the impact on domestic fuel costs.
Petrol and diesel prices recorded marginal reductions at the pumps from October 16, 2026, while LPG prices were projected to increase by about 18.5 per cent per kilogram.
The Chamber of Oil Marketing Companies attributed the earlier petrol and diesel reductions to movements in international refined petroleum product prices and government subsidy measures.
Its assessment showed average crude oil prices rose 2.03 percent to US$126.73 per barrel amid renewed supply concerns.
However, international refined product prices moved in different directions, with LPG rising 7.77 percent, while diesel and petrol prices declined by 6.68 percent and 3.93 percent, respectively.
The cedi also depreciated by 1.61 percent to GH¢11.8222 per US dollar during the Chamber’s assessment period, reflecting continued pressure from seasonal import demand and higher energy costs.
Source: businesspostonline
