The price of petrol per litre is expected to fall further from November 16, 2026, by some significant margin, while that of diesel could rise
This is coming after the National Petroleum Authority, together with industry players, reviewed the price floor for petrol from GH¢15.39 per litre to GH¢13.69 for the November 16 to 30, 2026, pricing window.
This actually represents an almost 13 percent decline from the old price quotes that the NPA put out some two weeks ago.
On the other hand, diesel will go up from the old price floor of GH¢17.41 to GH¢16.73 per litre.
LPG will also witness a significant increase, from GH¢13.73 per kilogramme to GH¢15.93.
According to the NPA, this excludes premiums charged by International Oil Trading Companies, operating margins of Bulk Import, Distribution and Export Companies, and margins charged by Oil Marketing Companies and LPG Marketing Companies.
The respective companies will determine those charges independently under the prescribed Petroleum Products Pricing Formula.
Implications
The adjustments could produce mixed price movements at the pumps during the next pricing window.
Lower price floors could give marketers room to reduce petrol and LPG prices. However, final adjustments will depend on the premiums and margins individual companies apply.
However, based on past developments, there are strong indications that the price of petrol could go down further, while that of diesel and LPG may go up.
Some of the oil marketing firms have already indicated that they will drop the price of petrol and even that of diesel.
The major oil marketing firm, Star Oil, for instance, had reduced prices three times over the past week and is now selling a litre of petrol at GH¢15.55 and diesel going for GH¢18.37.
Another player in the industry, Allied Oil, has also reviewed prices at the pumps, selling a litre of petrol at GH¢15.50 and diesel at GH¢18.20.
JP has also reduced its petrol price from GH¢16.43 quoted on October 16 to GH¢15.95. The price of diesel has also been reduced to GH¢18.35 from GH¢18.97.
Under the current regulations governing the pricing of petroleum products, prices are supposed to be reviewed on the 1st and 16th of each month.
However, the NPA has maintained that oil marketing companies can proceed with price reviews at the pumps, provided the adjustments are in line with the guidelines sanctioned by the market regulator.
The Ghana cedi has been fairly stable, while the International Energy Agency has projected that global oil markets will swing to supply surplus for the first time since the start of the Iran War as Persian Gulf exports recover.
Background
The Chamber of Oil Marketing Companies (COMAC) attributed the mixed reviews in prices of petroleum products to the cedi’s appreciation and the reduced prices of finished petroleum products and crude oil on the international market.