NPA reduces price floor for petrol to GH¢13.69, but increases diesel to GH¢16.73

The National Petroleum Authority has announced changes to the price floor for petrol and diesel in Ghana. Effective from November 16 to 30, 2026, the price floor for petrol will decrease from GH¢15.39 to GH¢13.69 per litre, representing a nearly 13% reduction. Conversely, the price floor for diesel will increase from GH¢17.41 to GH¢16.73 per litre.

This adjustment excludes premiums charged by international oil trading companies and margins set by bulk import, distribution, export, and marketing companies. The National Petroleum Authority (NPA) stated that these adjustments could result in mixed price movements at the pumps during the upcoming pricing window, as individual companies determine the final adjustments based on their specific premiums and operating margins.

Several oil marketing firms have already announced price reductions for petrol and diesel. Star Oil, the major player in the industry, has reduced petrol prices three times in the past week, now selling at GH¢15.55 per litre, and diesel at GH¢18.37 per litre. Allied Oil and JP have also lowered their prices, selling petrol at GH¢15.50 and diesel at GH¢18.20 and GH¢18.35, respectively.

The Ghana cedi has remained relatively stable, and the International Energy Agency projects that global oil markets will experience a surplus for the first time since the Iran War, due to recovering Persian Gulf exports.