The National Petroleum Authority (NPA) has increased the minimum price levels for petroleum products for the second pricing window of March, signalling likely increases at fuel pumps across Ghana.
Under the revised benchmark, the price floor for petrol has been set at GH¢11.57 per litre, up from GH¢10.46, while diesel has jumped significantly from GH¢11.42 to GH¢14.35 per litre. Liquefied Petroleum Gas (LPG) has also been adjusted upward to GH¢10.67 per kilogram, from GH¢9.38 previously.
The new thresholds will take effect from March 16 to March 31, according to a directive issued to Oil Marketing Companies (OMCs) and LPG Marketing Companies. The regulator has instructed operators to comply with the updated minimum pricing levels for the period.
Under Ghana’s petroleum pricing guidelines, the price floor represents the lowest amount companies are permitted to sell fuel for during a pricing window. This means no operator can retail petrol below GH¢11.57 or diesel below GH¢14.35 within the specified period.
However, the NPA noted that the figures do not include additional costs such as international trading premiums, distribution expenses and marketers’ margins. These elements are determined independently by the companies and could push final pump prices higher for consumers.
Industry analysts say the revised floor could lead to one of the sharpest diesel price adjustments in recent months, with expectations that actual pump prices may climb significantly once other charges are factored in.
The adjustment also means that oil marketing companies currently selling below the new thresholds will be required to increase their pump prices to meet the regulatory benchmark.
Energy sector watchers say the new pricing window will provide a clearer picture of the direction of fuel prices in the coming weeks as market conditions continue to evolve.
