Fuel Prices Edge Higher as NPA Revises Price Floors Upward

Prices for petrol, diesel, and liquefied petroleum gas (LPG) are expected to rise slightly following new ex-pump price floors announced by the National Petroleum Authority (NPA) for the second pricing window of May.

Under the revised pricing structure, petrol now has a minimum ex-pump price of GHȼ14.60 per litre, diesel is pegged at GHȼ15.81 per litre, while LPG is set at GHȼ13.16 per kilogram.

These figures represent increases compared to the first pricing window of May, when petrol’s floor price stood at GHȼ13.25 per litre, diesel at GHȼ14.30 per litre, and LPG at GHȼ13.02 per kilogram.

The adjustments show that petrol prices have risen by GHȼ1.35 per litre, while diesel recorded the largest increase of GHȼ1.51 per litre. LPG prices also increased by 14 pesewas per kilogram.

The revised price floors are expected to influence retail fuel prices announced by oil marketing companies in the coming days, although actual pump prices may differ depending on operational costs and market conditions.

The NPA clarified that the approved price floors do not include additional charges such as premiums imposed by international oil trading firms, operational margins of bulk import and distribution companies, or the margins charged by fuel marketers and dealers.

According to the Petroleum Products Pricing Guidelines, oil marketing companies and LPG distributors are required to comply with the approved minimum price levels for the specified pricing period.

The price floor serves as the lowest allowable benchmark price for petroleum products during a particular pricing window determined by the regulator.

Meanwhile, the Chamber of Petroleum Consumers has urged the government to extend current fuel tax relief measures for at least another month to help protect consumers from rising fuel costs.

The Chamber argued that the global conditions that prompted the intervention — including tensions in the Middle East and continued instability in crude oil prices on the international market — remain unresolved and continue to threaten fuel price stability.