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.
Petroleum product prices in Ghana could see a reduction effective August 16, 2026, as announced by the National Petroleum Authority (NPA). The price floor for petrol will drop from GH¢ 14.53 to GH¢ 13.92 per litre, a decrease of more than 4.1%. This corresponds to a reduction of GH¢ 0.61 per litre. Diesel prices will also fall from GH¢ 16.97 to GH¢ 15.19, marking the largest drop in recent times, amounting to GH¢ 1.78 or 10.48%.
LPG prices will be reduced from GH¢ 11.06 to GH¢ 10.98. The NPA has warned industry players to refrain from selling petroleum products below the approved price floor during the pricing window, excluding premiums charged by International Oil Trading Companies (IOTCs) and operating margins of BIDECs, marketers' and dealers' margins of OMCs/LPGMCs.
Some oil marketing firms are currently selling petrol at GH¢ 15.49 and diesel at GH¢ 16.97, which are above the set price floors. Despite the NPA's decision to curb consumer prices, it remains uncertain whether consumers will benefit from lower prices at the pumps from the first pricing window of August 2026. The government has promised to cover GH¢ 2 of the diesel price at the pumps for one month, but it is unclear whether the recent price reduction decision will influence this intervention's continuation.
Energy and Green Transition Minister John Jinapor has stated that the relief measure is for August only and will be reviewed based on market conditions and other relevant factors.
Written by urgent.news from Joy Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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