Prices of petroleum products are likely to be reduced from August 16
Prices of petroleum products are likely to be reduced from August 16, 2026. This follows the National Petroleum Authority’s decision to reduce the price floor for various petroleum products sold on the Ghanaian market. Details Based on data picked up by JOY BUSINESS, the price floor for petrol has been reduced from GH¢ 14.53 to […]
From August 16, 2026, the prices of petroleum products in Ghana are expected to be reduced, according to the National Petroleum Authority (NPA). The price floor for petrol, which had been set at GH¢ 14.53 per litre, will now be reduced to GH¢ 13.92 per litre, resulting in a 4.1% decrease. This equates to a reduction of GH¢ 0.61 per litre.
Diesel prices will also be adjusted, dropping from GH¢ 16.97 to GH¢ 15.19 per litre, a decrease of GH¢ 1.78 or approximately 10.48%. LPG prices will also see a reduction from GH¢ 11.06 to GH¢ 10.98 per unit.
The NPA has instructed all industry players, including Oil Marketing Companies (OMCs) and LPG Marketing Companies (LPGMCs), to refrain from selling petroleum products below the established price floor during the pricing window. However, the NPA clarified that the price floors do not include premiums charged by International Oil Trading Companies (IOTCs) or the operating margins of bottling companies and dealers, as these are independently determined by the companies under the Price Purity and Prevention of Manipulation of the Marketing of Petroleum Products (PPPG) scheme.
Despite most oil marketing firms currently pricing well above the price floor, it remains uncertain whether consumers will experience any reduction in petrol or diesel prices from the beginning of August 16, 2026. Some firms are currently selling petrol at GH¢ 15.49 and diesel at GH¢ 16.97 per litre, both above the new price floor.
In a recent announcement, the government committed to absorbing GH¢ 2 of the diesel price at the pumps for one month, starting from August 2026. However, the impact of this relief on the margin of the diesel price reduction is currently unclear. Energy and Green Transition Minister John Jinapor has stated that the intervention is only for August and will be reviewed before any decision on its continuation.
He emphasized that the measure is aimed at easing the burden on consumers while maintaining stability in the downstream petroleum sector.
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