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Petrol and liquefied petroleum gas (LPG) prices could decline at fuel stations from November 1, 2026, while diesel prices may increase following adjustments to the National Petroleum Authority’s (NPA) price floors for the first half of November.
The NPA has lowered the minimum price benchmark for petrol from GH¢16.09 to GH¢15.39 per litre for the November 1–15 pricing window. The price floor for LPG has also been reduced from GH¢13.89 to GH¢13.73 per kilogram.
Diesel, however, has recorded an increase in its price floor, rising from GH¢17.09 to GH¢17.41 per litre.
The adjustments suggest differing price trends for the three major petroleum products, with the lower benchmarks potentially creating room for petrol and LPG price reductions, while the higher diesel floor could put upward pressure on prices at the pumps.
However, changes to the NPA’s price floors do not necessarily mean consumers will experience corresponding changes in retail prices.
The Authority explains that the price floors exclude premiums charged by International Oil Trading Companies, operating margins applied by Bulk Import, Distribution and Export Companies, as well as the margins of Oil Marketing Companies (OMCs) and LPG Marketing Companies (LPGMCs).
These charges are independently determined by the respective companies in line with the prescribed Petroleum Products Pricing Formula.
As a result, the actual prices consumers pay will depend on how individual fuel marketers adjust their premiums and operating margins during the new pricing period.
Cedi Appreciation Could Offset Rising Crude Oil Prices
The prospect of lower petrol and LPG prices comes at a time when international crude oil prices are rising. However, the recent appreciation of the Ghanaian cedi could help moderate the impact of higher global oil prices on domestic fuel costs.
During the previous pricing review on October 16, 2026, petrol and diesel prices recorded slight reductions at the pumps, while LPG prices were projected to rise by approximately 18.5% per kilogram.
The Chamber of Oil Marketing Companies attributed the reductions in petrol and diesel prices to movements in international refined petroleum product prices, alongside government subsidy measures.
In its report covering the period, the Chamber indicated that average crude oil prices had risen by 2.03% to US$126.73 per barrel, driven by renewed concerns over global supply.
Prices of refined petroleum products, however, moved in different directions. LPG prices increased by 7.77%, while diesel and petrol prices declined by 6.68% and 3.93%, respectively.
The latest NPA adjustments highlight the varying factors influencing domestic fuel prices, including international market developments, exchange-rate movements and pricing decisions by individual petroleum marketers.
Consumers will therefore have to watch the pump prices announced by oil marketing companies from November 1 to determine whether the revised price floors translate into lower petrol and LPG costs or higher diesel prices.