Petrol and Liquefied Petroleum Gas (LPG) prices are likely to drop at the pumps from November 1, 2026, while diesel could become more expensive, following the National Petroleum Authority’s (NPA) review of price floors for the first half of November. The Authority has cut the floor price for petrol from GH¢16.09 to GH¢15.39 per litre and LPG from GH¢13.89 to GH¢13.73 per kilogram, but raised that of diesel from GH¢17.09 to GH¢17.41 per litre.The NPA noted that the adjustments signal mixed trends for the three key petroleum products, with lower floors creating space for petrol and LPG reductions while pushing diesel costs upward. However, it stressed that the new floors will not automatically determine pump prices, as they exclude premiums by International Oil Trading Companies and margins charged by Bulk Import, Distribution and Export Companies as well as Oil Marketing Companies.
According to the Authority, those additional charges are fixed independently by the respective companies under the approved Petroleum Products Pricing Formula, meaning the final amount paid by consumers will depend on how marketers adjust their premiums and margins in the new pricing window.The possible relief for petrol and LPG users comes at a time when global crude oil prices are rising, though the recent strengthening of the cedi is expected to cushion the impact on local fuel costs. At the last review on October 16, petrol and diesel saw slight declines while LPG was projected to rise by about 18.5% per kilogram.The Chamber of Oil Marketing Companies attributed the earlier dip in petrol and diesel to falling international refined product prices and government subsidies, despite crude rising by 2.03% to US$126.73 per barrel. With LPG up 7.77% internationally, and diesel and petrol down 6.68% and 3.93% respectively, actual pump prices from November 1 will be the true indicator of how global market shifts, exchange rate gains, and marketer decisions play out locally.
