ACCRA, Ghana – October 29, 2026 – Petrol and liquefied petroleum gas (LPG) prices could decline at the pumps from November 1, while diesel prices face upward pressure following changes to the National Petroleum Authority’s (NPA) minimum price benchmarks for the first half of November.
The NPA has reduced the petrol price floor from GH¢16.09 to GH¢15.39 per litre and the LPG price floor from GH¢13.89 to GH¢13.73 per kilogram for the November 1-15 pricing window.
Diesel is moving in the opposite direction, with its price floor increasing from GH¢17.09 to GH¢17.41 per litre.
The adjustments suggest mixed prospects for motorists and households, with lower benchmark prices creating room for petrol and LPG reductions, while diesel could become more expensive.
However, the revised price floors do not guarantee corresponding changes at the pumps, as the final prices will depend on the pricing decisions of individual oil marketing and LPG marketing companies.
Diesel price floor increases by GH¢0.32
The NPA’s revised benchmarks show that diesel has recorded an increase of GH¢0.32 per litre, while petrol has declined by GH¢0.70 per litre.
LPG has recorded a reduction of GH¢0.16 per kilogram.
The changes reflect different movements across the three petroleum products and could result in varying price adjustments at fuel stations during the new pricing window.
The NPA explains that its price floors exclude premiums charged by International Oil Trading Companies, operating margins applied by Bulk Import, Distribution and Export Companies, and margins charged by Oil Marketing Companies and LPG Marketing Companies.
These charges are determined independently by the respective companies under the prescribed Petroleum Products Pricing Formula.
Consumers will therefore have to monitor pump prices announced by individual marketers from November 1 to determine the actual cost of fuel.
Cedi appreciation could cushion international price pressures
The potential reductions in petrol and LPG prices come amid rising international crude oil prices, although the recent appreciation of the Ghana cedi could help moderate the impact of external market pressures on domestic fuel costs.
At the previous pricing adjustment on October 16, petrol and diesel prices recorded marginal reductions at the pumps, while LPG prices were projected to increase 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 and government subsidy measures.
According to the Chamber’s report for that period, average crude oil prices increased by 2.03% to US$126.73 per barrel amid renewed supply concerns.
However, refined petroleum products recorded mixed movements on the international market. LPG prices increased by 7.77%, while diesel and petrol prices declined by 6.68% and 3.93%, respectively.
Pump prices remain the key indicator
The latest NPA adjustments indicate that domestic fuel prices could continue to respond differently to international market developments, exchange-rate movements and the pricing decisions of individual marketers.
While the lower petrol and LPG price floors provide room for potential reductions, the increase in the diesel benchmark could put pressure on transport and other businesses that depend heavily on diesel.
The actual impact on consumers will depend on how oil marketing companies adjust their prices during the November 1-15 pricing window.
