The National Petroleum Authority (NPA) has announced new minimum price floors for petroleum products for the second pricing window of March, which will take effect from March 16 to March 31.
Under the revised pricing structure, the minimum price of petrol has increased from GH¢10.46 to GH¢11.57 per litre.
Diesel has recorded a sharper adjustment, rising significantly from GH¢11.42 to GH¢14.35 per litre. Industry analysts say this represents one of the most notable single-product price floor increases in recent years.
Liquefied Petroleum Gas (LPG) has also seen an upward revision, moving from GH¢9.38 to GH¢10.67 per kilogram.
In a directive issued to Oil Marketing Companies (OMCs), the NPA urged compliance with the new pricing benchmarks.
“As per the Petroleum Products Pricing Guidelines (PPPG), all Oil Marketing Companies (OMCs) and LPG Marketing Companies (LPGMCs) are entreated to comply with the above price floors for the window under consideration,” the Authority stated.
The NPA clarified that the indicated prices do not include premiums charged by International Oil Trading Companies (IOTCs), as well as the operating margins of Bulk Import, Distribution and Export Companies (BIDECs), and the marketers’ and dealers’ margins of OMCs and LPGMCs.
According to the Authority, these additional costs will be determined independently by the respective companies in accordance with the PPPG framework.
With the revised benchmarks in place, no Oil Marketing Company or LPG Marketing Company will be allowed to sell petroleum products below the approved price floors during the specified period. Companies currently pricing their products below these levels will therefore be required to adjust their pump prices upward to meet the directive.
The new thresholds also provide an indication of potential pump prices from March 16. Petrol cannot be sold below GH¢11.57 per litre, while diesel must not be sold below GH¢14.35 per litre.
When additional levies, operational costs, and marketing margins are factored in, consumers are likely to face significantly higher pump prices.
Several industry stakeholders have already suggested that the current pricing window could see one of the steepest increases in fuel prices in recent months.
Chief Executive of the Chamber of Bulk Oil Distributors, Dr. Riverson Oppong, previously indicated that fuel prices could reach as high as GH¢17 per litre, citing ongoing developments in the Middle East.
Similarly, the Executive Secretary of the Chamber of Petroleum Consumers (COPEC), Duncan Amoah, warned in an interview on March 12, 2026, that fuel prices could range between GH¢14 and GH¢16 per litre.
Another concern within the industry is the limited ability of oil marketing companies to cushion consumers through discount pricing strategies.
In previous pricing cycles, some major oil marketing companies occasionally offered lower pump prices through selective discounts. However, the introduction of the new price floors may restrict such pricing flexibility.
It remains uncertain whether competition among oil marketing companies will encourage some operators to absorb part of the expected cost increases.
