National Petroleum Authority reduces petrol and LPG price floors

The National Petroleum Authority (NPA) has revised the price floors for petroleum products for the first pricing window of November 2026. Under the new directive, the price floor for petrol has been reduced from GH•16.09 to GH•15.39 per litre, while the floor for liquefied petroleum gas (LPG) has dropped from GH•13.89 to GH•13.73 per kilogram. These adjustments provide the baseline for Oil Marketing Companies (OMCs) as they prepare their retail rates for the upcoming month.

While petrol and LPG consumers may see some relief, diesel users are likely to face price increases. The NPA has raised the diesel price floor from GH•17.09 to GH•17.41 per litre. It is important to note that these figures represent the minimum allowable prices; the final amount paid by consumers at the pump will be determined by individual OMCs and LPG marketing companies, who add their own operating margins and premiums to these base figures.

The broader economic environment presents a mixed outlook for energy costs. Although international crude oil prices have been trending upwards, the recent appreciation of the Ghana cedi against major currencies may help to offset some of the external price pressures. This currency stability is a key factor in the NPA's decision to lower the floors for petrol and LPG, despite the rising global cost of raw crude.

Industry analysts and consumers are now looking to the various marketing companies for their scheduled price announcements on November 1, 2026. While the lower floors for petrol and LPG offer an opportunity for price cuts, some market projections indicate that LPG retail prices could still face upward pressure due to specific supply chain dynamics. Consumers are encouraged to compare rates at different retail outlets as OMCs adjust their competitive strategies within the new regulatory framework.