The National Petroleum Authority (NPA) has announced revised minimum price levels for petroleum products, effective for the first pricing window of March 2026 (March 1–15), resulting in upward adjustments for petrol and diesel amid rising global crude oil pressures.
According to the NPA directive, the price floor for petrol has increased from GH¢10.24 per litre (in the previous February 16 window) to GH¢10.46 per litre, while diesel rises marginally from GH¢11.34 to GH¢11.42 per litre. In contrast, Liquefied Petroleum Gas (LPG) sees a slight reduction to GH¢9.38 per kilogram from GH¢9.43.
The updated floors prohibit any Oil Marketing Company (OMC) or LPG Marketing Company (LPGMC) from selling below these thresholds during the period. Companies previously pricing below the new minimum must raise pump prices to achieve compliance. Some operators that had intended to hold prices steady may now implement increases due to the binding policy and prevailing market dynamics.
The NPA’s price floor mechanism, introduced in April 2024, aims to curb distortions, promote market stability, transparency, fairness, and long-term sustainability in Ghana’s downstream petroleum sector.
Industry data from the Chamber of Oil Marketing Companies (COMAC) projects that actual pump prices could climb further: petrol potentially rising by about 2.89% to around GH¢12.04 per litre, diesel by 0.86% to approximately GH¢13.22 per litre, while LPG is expected to dip slightly to GH¢13.87 per kilogram—marking its first decline this year.
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These shifts are primarily driven by escalating international crude and refined product prices. Brent crude has hovered near seven-month highs around $71 per barrel, fueled by geopolitical tensions in the Middle East and speculation over potential US military involvement against Iran. Analysts warn that prolonged instability could push prices toward $90 per barrel or higher.
The NPA noted that recent marginal appreciation of the Ghana cedi against major currencies has partially offset these external pressures, softening the domestic impact.
Oil marketing companies are anticipated to align pump prices with the new March window, though competitive dynamics and ongoing market monitoring may lead to staggered or varied implementation across stations. Recent checks indicate some firms, such as GOIL, have already begun adjustments in line with the petrol floor.
The announcement comes against a backdrop of adequate national fuel stocks—over five weeks for diesel and nearly seven weeks for petrol—as confirmed by NPA officials, providing a buffer amid global uncertainties.
