NPA reduces price floor from August 16, petrol to sell at GH¢ 13.92, diesel pegged at GH¢ 15.19
This represents more than a 4.1% cut in the benchmark for setting prices of petroleum products, as agreed with industry players. It also means the price of petrol has been reduced by GH¢ 0.61.
The National Petroleum Authority (NPA) announced that prices of petrol and diesel will be reduced from August 16, 2026. The price floor for petrol will drop from GH¢ 14.53 to GH¢ 13.92 per litre, a decrease of 4.1%. This represents a reduction of GH¢ 0.61 per litre. Diesel prices will fall from GH¢ 16.97 to GH¢ 15.19, a 10.48% cut, or GH¢ 1.78 per litre.
LPG prices will also decrease from GH¢ 11.06 to GH¢ 10.98. The NPA warned industry players against selling petroleum products below the approved price floor, but noted that the price floors do not include premiums charged by International Oil Trading Companies, operating margins of BIDECs, or marketers' and dealers' margins of OMCs/LPGMCs.
Despite most firms pricing above the floor, it remains uncertain if consumers will see a reduction at the pumps or if prices will remain unchanged. The government plans to absorb GH¢ 2 of the price of diesel at the pumps for one month, starting August 2026, but its impact on the price reduction is unclear. Energy and Green Transition Minister John Jinapor said the relief is temporary and subject to review, taking into account market conditions and other factors.
Written by urgent.news from MyJoyOnline Ghana's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
