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Fuel prices see slight relief in May as diesel records sharper drop

 Fuel prices in Ghana are set to ease slightly from May 1, 2026, with the National Petroleum Authority (NPA) announcing lower price floors for petrol and a more significant reduction for diesel in its latest pricing window.

In a pricing notice dated April 28, the NPA said the adjustment forms part of its bi-monthly review mechanism covering May 1 to May 15, reflecting shifts in global crude prices and exchange rate movements.

“The National Petroleum Authority has set the ex-pump price floors for the May 1 to 15 window in line with the Petroleum Products Pricing Guidelines,” the statement indicated.

Under the new rates, petrol has been set at GH¢13.25 per litre, while diesel now stands at GH¢14.30 per litre.

Liquefied Petroleum Gas (LPG) is priced at GH¢13.02 per kilogramme, with kerosene and Marine Gas Oil Local set at GH¢16.13 and GH¢15.41 respectively.

Compared to the previous pricing window in mid-April, petrol has seen a marginal reduction of 2 pesewas, while diesel has dropped significantly by GH¢1.80 per litre.

The adjustment continues a gradual easing trend following sharp increases recorded earlier in April, when diesel peaked at GH¢17.10 per litre due to rising global crude oil prices and a weaker cedi.

That earlier spike was driven in part by geopolitical tensions in the Middle East, which pushed Brent crude above $100 per barrel at the time, increasing import costs for fuel-importing countries like Ghana.

By contrast, diesel prices have now dropped by GH¢2.80 from the early April peak, though they remain higher than levels recorded in February and early March.

The government has also been intervening to soften the impact on consumers by absorbing part of the pricing burden. From the April 16 window, it removed selected margins in the petroleum price build-up, including GH¢2.00 per litre on diesel and GH¢0.36 on petrol.

It is, however, not immediately clear whether those subsidies will continue into the new pricing window or be adjusted ahead of the mid-year fiscal review.

The NPA has reminded Oil Marketing Companies (OMCs) and LPG Marketing Companies (LPGMCs) that they are required to comply with the announced floors, although they are permitted to add their own margins, meaning actual pump prices may vary across stations.

“As per the Petroleum Products Pricing Guidelines, all OMCs and LPGMCs are entreated to comply with the above price floors for the window under consideration,” the Authority added.

The latest adjustment is expected to bring modest relief to consumers, but transport operators continue to warn that sustained high fuel prices could trigger fare adjustments, with wider implications for the cost of living and inflation pressures in the country.

The new pricing structure takes effect on May 1, 2026, and will be reviewed mid-month again.

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