The floor price of diesel has risen for the first half of November, while those of petrol and liquefied petroleum gas (LPG) have declined, signalling potentially divergent price movements at the pumps from November 1, 2026.
The National Petroleum Authority (NPA) has increased the diesel price floor from GH¢17.09 to GH¢17.41 per litre, a rise of GH¢0.32, while reducing the petrol benchmark from GH¢16.09 to GH¢15.39 per litre, representing a GH¢0.70 decline.
The LPG price floor has also fallen from GH¢13.89 to GH¢13.73 per kilogram, a reduction of GH¢0.16.
The adjustments could create room for lower petrol and LPG prices but increase upward pressure on diesel, with the extent of any changes ultimately depending on the pricing decisions of individual oil marketing and LPG marketing companies.
The revised floors apply to the November 1–15 pricing window. However, they do not automatically translate into equivalent changes in pump prices, as the NPA’s benchmarks exclude several costs and margins incorporated into the final prices charged to consumers.
These include 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.
The respective companies determine these charges under the prescribed Petroleum Products Pricing Formula. Consequently, the actual prices motorists and households pay will depend on how marketers adjust their premiums and margins during the new pricing period.
Cedi appreciation could cushion crude oil pressures
The potential relief for petrol and LPG consumers comes against a backdrop of rising international crude oil prices, although the recent appreciation of the cedi could help cushion the impact of external price 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 rise by about 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.
In its report for that period, the Chamber said average crude oil prices had increased by 2.03% to US$126.73 per barrel amid renewed supply concerns.
Refined petroleum products, however, recorded mixed movements.
International LPG prices rose by 7.77%, while diesel and petrol prices declined by 6.68% and 3.93%, respectively.
The latest adjustments underscore how developments in international crude oil and refined product markets, exchange-rate movements and local pricing decisions can produce different outcomes for petroleum products in Ghana.
For consumers, the decisive factor will be the pump prices announced by individual marketers from November 1, rather than the NPA’s revised floor prices alone.
