The fuel price is expected to fall further from November 16, 2026, after the National Petroleum Authority revised the price floor for the second pricing window of the month.
The NPA, working with industry players, has reduced the petrol price floor from GH¢15.39 per litre to GH¢13.69 for the November 16 to 30 window, representing a decline of almost 13 percent.
Diesel has also been revised down, though by a smaller margin, from GH¢17.41 per litre to GH¢16.73.
Liquefied petroleum gas, however, is moving in the opposite direction, with the price floor rising from GH¢13.73 per kilogramme to GH¢15.93.
Final pump prices still depend on marketers
The NPA figures do not represent the final prices consumers will necessarily pay at filling stations.
They exclude premiums charged by international oil trading companies, operating margins of Bulk Import, Distribution and Export Companies, as well as margins imposed by Oil Marketing Companies and LPG Marketing Companies.
Those charges will be determined independently under the petroleum products pricing formula.
The changes therefore leave room for mixed movements at the pumps when the new pricing window opens.
Market indications point to further reductions in petrol, while diesel and LPG could record different movements depending on the margins adopted by individual marketers.
Oil firms already cutting pump prices
Some oil marketing companies have already started reducing prices ahead of the next window.
Star Oil has cut its prices several times over the past week and is currently selling petrol at GH¢15.55 per litre and diesel at GH¢18.37.
Allied Oil is selling petrol at GH¢15.50 and diesel at GH¢18.20, while JP has reduced petrol from GH¢16.43 to GH¢15.95. Its diesel price has also dropped from GH¢18.97 to GH¢18.35.
Under Ghana’s petroleum pricing regime, prices are normally reviewed on the first and 16th of every month.
The NPA has, however, maintained that marketers may adjust pump prices within a pricing window, provided the changes remain within the regulator’s approved guidelines.
Cedi stability supports price outlook
The Chamber of Oil Marketing Companies has linked the mixed fuel price movement to the relative stability of the cedi and softer prices for crude oil and finished petroleum products on the international market.
The International Energy Agency has also projected a possible shift towards a global oil supply surplus as Persian Gulf exports recover.
That combination could continue to influence domestic fuel prices, although the final amount paid by consumers will still depend heavily on the margins applied by individual oil marketing companies.
