The National Petroleum Authority (NPA) has set new minimum price thresholds for petroleum products for the first pricing window of March 2026, covering March 1 to 15.
Under the revised price floor, petrol will rise from GHC 10.24 per litre in the February 16 window to GHC 10.46. Diesel will also edge up from GHC 11.34 to GHC 11.42 per litre.
In contrast, LPG will see a slight reduction, falling from GHC 9.43 to GHC 9.38 per kilogram.
Mandatory Compliance for Marketers
The updated thresholds mean no Oil Marketing Company (OMC) or LPG Marketing Company (LPGMC) can sell below the approved minimum prices during the window. Firms currently pricing below the new floors are required to adjust upward to comply.
Some companies that had initially intended to hold prices steady may now be compelled to increase pump prices due to prevailing market conditions.
The NPA introduced the price floor policy in April 2024 to curb price distortions and promote stability, transparency, and fairness in Ghana’s downstream petroleum sector.
Market Outlook: Higher Pump Prices Likely
Meanwhile, data from the Chamber of Oil Marketing Companies (COMAC) suggest that pump prices could rise further.
Petrol is projected to increase by about 2.89 percent, potentially selling at around GHC 12.04 per litre. Diesel may climb by 0.86 percent to approximately GHC 13.22 per litre.
LPG, however, is expected to decline marginally to about GHC 13.87 per kilogram — its first reduction this year.
COMAC attributes the projected increases largely to rising international crude and refined petroleum product prices.
Global Pressures and the Cedi’s Cushion
On the global market, Brent crude has recently traded near a seven-month high of about $71 per barrel, amid geopolitical tensions and speculation over possible US military action against Iran. Some analysts warn that prices could surge toward $90 per barrel if instability persists.
The NPA noted, however, that the recent marginal appreciation of the Ghana cedi against major foreign currencies over the past two weeks helped moderate the impact of international price pressures on domestic fuel prices.
Oil marketing companies are expected to adjust pump prices in line with the March 1 pricing window, though implementation may vary across firms due to competition and ongoing market monitoring.
