Petrol falls to GH¢15.55 at Star Oil, but the NPA is yet to publish the new floor

The National Petroleum Authority (NPA) has lowered the price floor for petrol to GH¢13.69 per litre and diesel to GH¢16.73 per litre for the November 16 to 30, 2026 pricing window. This represents a significant reduction, with petrol prices dropping by almost 13% from the previous GH¢15.39 per litre threshold. Diesel prices have also fallen by approximately 4.4%, from GH¢17.41 to GH¢16.73 per litre.

The NPA's decision to adjust the price floors comes after a review with industry players. The new price floors are expected to provide more flexibility for marketers to reduce petrol and LPG prices at the pump, although the final adjustments will depend on the individual companies' application of premiums and margins. Companies operating under the Petroleum Products Pricing Formula will determine these additional charges independently.

Implications of the price adjustments remain uncertain, with some analysts suggesting a further drop in petrol prices and potential increases in diesel and LPG costs. Major oil marketing firms, such as Star Oil and Allied Oil, have already reduced their petrol and diesel prices in recent weeks, with Star Oil currently selling petrol for GH¢15.55 per litre and diesel for GH¢18.37. Other players, like JP, have also lowered their petrol prices and diesel prices.

The Ghana cedi has remained relatively stable, while the International Energy Agency predicts that global oil markets will experience a surplus for the first time since the Iran War due to recovering Persian Gulf exports. The Chamber of Oil Marketing Companies (COMAC) attributes the mixed price reviews to the cedi's appreciation and the reduced prices of finished petroleum products and crude oil on the international market.

Pricing reviews for petroleum products are scheduled on the 1st and 16th of each month, but oil marketing companies are permitted to proceed with reviews provided adjustments comply with market regulator guidelines.