The National Petroleum Authority (NPA) has set new minimum price floors for petroleum products for the April 1, 2026, window.
Under the revised price floor, petrol has increased from GH¢11.57 to GH¢13.30 per litre, representing about 1.73% increase.
Diesel, on the other hand, has made the biggest hike, rising from GH¢14.35 per litre to GH¢17.10.
The spike showed that over the last two weeks, the price floor of the product has gone up by GH¢2.75.
Liquefied Petroleum Gas (LPG) has also been adjusted upward to GH¢10.71 per kilogramme from the previous GH¢10.67.
In a notice to Oil Marketing Companies (OMCs) sighted by Joy Business, the NPA stated: “As per the Petroleum Products Pricing Guidelines (PPPG), all Oil Marketing Companies (OMCs) and LPG Marketing Companies (LPGMCs) are entreated to comply with the above price floors for the window under consideration.”
The Authority also clarified that the quoted prices exclude premiums charged by International Oil Trading Companies (IOTCs), as well as the operating margins of Bulk Import, Distribution and Export Companies (BIDECs) and the marketers’ and dealers’ margins of OMCs and LPGMCs.
It added that “these will be independently determined by the companies as pertains under the PPPG.”
Implications
The development means no Oil Marketing Company (OMC) or LPG Marketing Company will be permitted to sell below the approved price floors from April 1 to April 15, 2026 .
Companies currently selling below these levels will have to adjust their pump prices upward to comply with the directive from Wednesday, April 1, 2026.
This means petrol cannot be sold below GH¢13 .30 per litre, while diesel cannot be sold below GH¢17.10 per litre.
Once additional levies, margins and operational charges are factored in, consumers are expected to pay significantly more at the pumps from April 1 2026.
Industry Concerns and NPA
Some players in the industry, including the Chamber of Oil Marketing Company (COMAC) have questioned the “relevance” of this Price Floor that is set in agreement with industry players and published by the National Petroleum Authority”.
For instance, the Executive Secretary of the Chamber of Petroleum Consumers, Duncan Amoah has argued that competition among the various OMCs could help set up some competitive pricing and the industry does not need a price.
He told Joy Business that the National Petroleum Authority should have taken steps to freeze this price floor or even suspend it.
But the Chief Executive of the NPA, Godwin Kudzo Tameklo, in an interview on PM EXPRESS justified the review in the price floor, arguing there is the need to protect the market and all the players.
He went ahead to argue that there are no immediate plans of suspending the Petroleum Price Floor in terms of the pricing of petroleum products
Based on this Price Floor, this should mean that there could be significant hike in the price of petroleum products at the pumps from this Wednesday, April 1, 2026.
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Source: www.myjoyonline.com