ACCRA, GHANA — Consumers are set for a boost. A predicted fall in petrol prices is expected in the next pricing window, market data has revealed.
According to the data, the petrol price floor has been reduced from GH¢16.09 to GH¢15.39 per litre for the November 1–15 pricing window. This represents a reduction of GH¢0.70 per litre, or 4.35 per cent.
However, the price of diesel is set to increase marginally. This follows an upward adjustment in its price floor by the National Petroleum Authority.
The diesel floor has increased from GH¢17.09 to GH¢17.41 per litre. This marks a 1.87 per cent increase.
LPG Prices
Liquefied petroleum gas could also see some relief. Its price floor declined from GH¢13.89 to GH¢13.73 per kilogram. This is a decrease of 1.15 per cent.
These figures are price floors, not final retail prices. According to the NPA, the price floors exclude premiums charged by International Oil Trading Companies. They also exclude operating margins of Bulk Import, Distribution and Export Companies, and margins charged by Oil Marketing Companies.
The respective companies will determine these charges independently. This is done under the prescribed Petroleum Products Pricing Formula.
Pump Prices May Vary
Fuel prices at the pumps could move in different directions in the coming pricing window. This depends on how oil marketing companies respond to the revised price floors.
Petrol and LPG prices could fall as marketers gain room to lower their rates. However, the extent of any reduction will depend on each company’s pricing decisions.
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.
Global and Local Factors
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 announced a projected drop in petrol and diesel prices. This was ahead of the second pricing window for October, which began on October 16.
This followed an increase in petrol prices from GH¢16.00 per litre in September to GH¢16.45 per litre in the first pricing window of October. This was an increase of GH¢0.45, or 2.8 per cent.
Diesel prices also rose from GH¢16.77 to GH¢17.97 per litre. This was an increase of GH¢1.20, or 7.2 per cent.
However, in the second pricing window, fuel prices were expected to decline from Friday, October 16. Oil Marketing Companies began implementing new prices, offering some relief to consumers.
Projected Price Reductions
Petrol prices were projected to fall by close to 2 per cent. Diesel prices were expected to decline by 3.32 per cent. This was despite the recent depreciation of the cedi.
On a cash-purchase basis, petrol was projected to sell at GH¢17.67 per litre. Diesel was expected to retail at GH¢19.30 per litre.
The expected price reductions followed the first pricing window in October. Major OMCs maintained their pump prices following government interventions.
The interventions included agreements by the Sentuo Oil Refinery and the Tema Oil Refinery. They agreed to maintain their petroleum product supply prices to Bulk Distribution Companies at previous levels.
The government also suspended the GH¢1-per-litre dumsor levy on diesel for October. These measures came after earlier fuel price increases raised concerns that pump prices could reach GH¢20 per litre.
What This Means
The expected fall in petrol prices will provide relief to consumers. Many have struggled with the high cost of living.
The marginal increase in diesel prices may affect transportation costs. However, the reduction in petrol prices could offset some of the impact.
What Happens Next
Oil Marketing Companies will implement the new price floors from November 1. Consumers will be watching to see how much relief they get at the pumps.
For now, the focus is on the pricing window. The coming weeks will reveal the actual pump prices across the country.
