...Sets Petrol Price at GH¢10.24, Diesel at GH¢11.34
The National Petroleum Authority (NPA) has raised the minimum price thresholds for petroleum products for the second pricing window of February 2026, requiring oil marketing companies (OMCs) to adjust pump prices upward where necessary.
Under the new directive, which takes effect from February 16 to February 28, 2026, petrol must not be sold below GH¢10.24 per litre, up from GH¢9.99 in the previous pricing window. Diesel’s price floor has also been increased to GH¢11.34 per litre, from GH¢10.95, while liquefied petroleum gas (LPG) will not be sold below GH¢9.43 per kilogram.
The revised thresholds mean that any OMC or LPG marketing company currently selling below these minimum levels must raise their prices to comply with the regulation.
Compliance Mandatory for All Fuel Marketers
The NPA’s directive forms part of its petroleum pricing guidelines, which require strict adherence to approved minimum ex-pump prices to maintain order and stability in the downstream petroleum sector.
The Chamber of Oil Marketing Companies (COMAC) has reminded all fuel retailers to comply fully with the new price floors, stressing that failure to do so could undermine market stability.
The Chamber clarified that the approved price floors do not include additional cost elements such as premiums charged by international oil trading companies, operating margins of Bulk Import, Distribution and Export Companies (BIDECs), or marketers’ and dealers’ margins. These components will continue to be determined independently by individual companies.
COMAC said adherence to the directive is necessary to ensure fair competition, protect consumers and prevent market distortions.
Fuel Prices Expected to Rise Marginally
The upward adjustment in price floors comes amid projections that fuel prices will increase slightly during the current pricing window.
According to COMAC’s latest outlook report, petrol prices could rise by up to 1.97 per cent, with diesel projected to increase by about 2.73 per cent, while LPG may rise by more than 3 per cent.
However, the Chamber noted that oversupply of refined petroleum products in the domestic market could moderate the extent of the increases, resulting in only marginal adjustments at the pumps.
Weakening Cedi and Global Prices Driving Increase
The projected fuel price increases have been largely attributed to the depreciation of the Ghana cedi and rising global petroleum prices.
Data from the Bank of Ghana indicate that the cedi depreciated by about 4 per cent against the US dollar in January 2026, driven by increased foreign exchange demand from businesses restocking inventory and multinational firms repatriating dividends.
At the same time, international crude oil prices have climbed by more than 5 per cent, with benchmark prices approaching $70 per barrel. Prices of finished petroleum products have also risen, with petrol increasing by over 4 per cent, diesel by more than 5 per cent, and LPG by more than 6 per cent on global markets.
These developments have exerted upward pressure on domestic fuel pricing.
Policy Aimed at Stabilising Market
The price floor policy, first introduced by the NPA in April 2024, was designed to prevent aggressive price undercutting among fuel retailers, which regulators warned could destabilise the downstream petroleum industry.
According to the Authority, the policy promotes transparency, sustainability and fair competition while ensuring that operators can cover operational costs.
The latest adjustment comes amid ongoing industry debate over the price floor framework. Some industry players have argued that the policy limits their ability to compete on pricing, while others maintain that it is essential to prevent market collapse and ensure long-term stability.
Despite the controversy, regulators and industry stakeholders say the measure remains critical to maintaining balance in Ghana’s petroleum sector as global and local economic pressures continue to influence fuel costs.
The NPA implemented the price floor policy in April 2024 to prevent price distortions and promote market stability in the downstream petroleum sector. The policy requires OMCs and LPGMCs to comply with the minimum prices set for fuel sales.
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