Fuel prices are expected to record a mixed adjustment from May 1, 2026, with petrol and diesel projected to decline while Liquefied Petroleum Gas (LPG) is set for a significant increase.
Data from the Chamber of Oil Marketing Companies indicate that petrol prices could fall by up to 0.51 per cent per litre, with some Oil Marketing Companies (OMCs)—particularly those procuring products on credit—likely to retail at around GH¢14.51 per litre.
Diesel is anticipated to experience a more pronounced reduction, dropping by approximately 6.77 per cent to an estimated GH¢15.87 per litre, marking one of the steepest declines in recent months.
In contrast, LPG prices are expected to rise sharply by as much as 10.41 per cent per kilogramme. The Chamber attributed this increase to the delayed effects of a tender arrangement that had previously cushioned price hikes but is now being reflected in market pricing.
The projected declines in petrol and diesel are largely driven by falling international crude oil prices and ongoing government–industry interventions aimed at mitigating the impact on consumers. During the pricing window, global crude prices dropped from $129.80 to $113.80 per barrel, representing a 12.33 per cent decrease.
Prices of refined petroleum products also trended downward internationally, with diesel falling by 14.16 per cent, LPG by 13.11 per cent, and petrol by 1.08 per cent. However, these reductions were partly offset by a marginal depreciation of the Ghana cedi, which weakened by 0.65 per cent against the US dollar over the same period.
Attention is now focused on how OMCs will respond within the new pricing window, particularly as the adjustment coincides with a public holiday. The National Petroleum Authority (NPA) has set price floors to guide the market, pegging petrol at GH¢13.25 per litre and diesel at GH¢14.30 per litre, excluding additional margins and charges. LPG has been set at GH¢13.02 per kilogramme, while kerosene and Marine Gas Oil Local are priced at GH¢16.13 and GH¢15.41, respectively.
Compared to the previous mid-April pricing window, petrol has recorded a marginal decrease of two pesewas, while diesel has dropped more significantly by GH¢1.80 per litre.
In its directive to industry players, the Authority urged all OMCs and LPG Marketing Companies to adhere to the established price floors, noting that final retail prices will continue to reflect additional cost components such as premiums and distribution margins, as предусмотрed under the Petroleum Products Pricing Guidelines.
