The National Petroleum Authority (NPA) has announced new minimum price levels for petroleum products for the first pricing window of March 2026, effective March 1–15.
Under the revised price floor, petrol will increase from GHC 10.24 in the February 16 window to GHC 10.46 per litre, while diesel rises from GHC 11.34 to GHC 11.42.
Conversely, LPG sees a marginal decrease to GHC 9.38 per kilogram from GHC 9.43.
The new thresholds mean no Oil Marketing Company (OMC) or LPG Marketing Company (LPGMC) is permitted to sell below the approved floors during this period.
Companies currently selling below these levels must adjust pump prices upward to comply.
Some firms that had initially planned to maintain current prices may now be forced to implement the increase due to market conditions.
The NPA introduced the price floor policy in April 2024 to prevent price distortions, ensure market stability, and enhance transparency, fairness, and sustainability in Ghana’s downstream petroleum sector.
Data from the Chamber of Oil Marketing Companies (COMAC) indicate that petrol prices could rise by 2.89%, reaching around GHC 12.04 per litre, while diesel may increase by 0.86%, selling at approximately GHC 13.22 per litre.
LPG is expected to decline slightly to GHC 13.87 per kilogram, marking its first reduction this year.
COMAC notes that the projected price changes are largely influenced by rising international crude and finished petroleum product prices.
Brent crude 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 suggest prices could rise to $90 per barrel if instability continues.
NPA also highlighted that the marginal appreciation of the Ghana cedi against major currencies over the past two weeks helped soften 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 window, although not all firms may implement the changes immediately due to competition and ongoing market monitoring.
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Source: www.myjoyonline.com