NPA increases price floor from September 16; petrol to sell at GH¢16, diesel at GH¢16.77
The development should mean that we are likely to see some significant increases in the prices of petroleum products from the current levels or price quotes by the various oil marketing companies.
The National Petroleum Authority (NPA) has raised the price floor for petroleum products from September 16. Petrol will now be sold at a minimum price of GH¢16.00 per litre, while diesel will be sold at a floor price of GH¢16.77 per litre. In contrast, LPG will remain at GH¢10.97 per kilogram. This price adjustment will ensure that no oil marketing companies can sell petrol for less than GH¢16 or diesel for less than GH¢16.77 starting from October 2026.
The price floors do not include the additional charges from International Oil Trading Companies (IOTCs) or the profit margins of the oil companies and dealers. Consequently, consumers can anticipate higher prices at the pumps, with industry experts projecting increases of up to 4.24% for petrol and 10.23% for diesel. The Chamber of Petroleum Consumers suggests a 16.45% rise in the international price of LPG, which will lead to a 16.45% increase in its FOB price.
The Chamber has urged the government to extend its subsidy support by providing a GH¢1 per litre reduction for petrol and maintaining a GH¢2 per litre subsidy for diesel, while also proposing a reduction in the profit margins of oil marketing companies to alleviate the burden on consumers.
Written by urgent.news from MyJoyOnline Ghana's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
