Consumers in Ghana are set to benefit from a predicted fall in petrol prices in the next pricing window, according to market data obtained by JoyBusiness. The petrol price floor has been reduced from GH¢16.09 to GH¢15.39 per litre for the November 1–15 pricing window, representing a reduction of GH¢0.70 per litre, or 4.35%. This decrease is expected to bring relief to consumers.
However, the price of diesel is set to increase marginally following an upward adjustment in its price floor by the National Petroleum Authority (NPA). The diesel floor has increased from GH¢17.09 to GH¢17.41 per litre, marking a 1.87% increase. This change may lead to varying responses from oil marketing companies, potentially affecting diesel prices at the pumps.
Liquefied petroleum gas (LPG) could also see some relief, with its price floor declining from GH¢13.89 to GH¢13.73 per kilogram, a decrease of 1.15%. These figures are price floors, not final retail prices, and the respective companies will determine their charges independently under the prescribed Petroleum Products Pricing Formula.
The National Petroleum Authority (NPA) has clarified that the price floors exclude 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. This means that fuel prices at the pumps could move in different directions in the coming pricing window.
One major oil marketing company currently charges GH¢16.45 per litre for petrol and GH¢17.95 per litre for diesel. While some retailers may cut their prices, others could maintain their current rates. Diesel, in particular, faces possible upward pressure because of its higher price floor. The extent of any reduction will depend on each company's pricing decisions.
Rising global crude oil prices remain a concern, but the cedi's recent appreciation could help limit the impact on consumers. On October 14, 2026, the Chamber of Oil Marketing Companies (COMAC) announced a projected drop in petrol and diesel prices ahead of the second pricing window for October, which began on October 16.
The government had previously intervened to mitigate fuel price increases, including agreements by the Sentuo Oil Refinery and the Tema Oil Refinery to maintain their petroleum product supply prices to Bulk Distribution Companies at the levels recorded in the previous pricing window. The government also suspended the GH¢1-per-litre dumsor levy on diesel for October, which helped to limit price increases.
Key points
- Petrol prices are expected to decrease by 4.35% from November 1, while diesel prices will see a marginal increase of 1.87%.
- The price floors for LPG have declined by 1.15% per kilogram.
- Fuel prices at the pumps may vary depending on the pricing decisions of individual oil marketing companies.
