Fuel prices to drop from May 1 as NPA sets new rates

Fuel prices in Ghana are set to decline from May 1, 2026, following the release of new price floors by the National Petroleum Authority (NPA) for the upcoming bi-monthly pricing window.

The adjustment reflects relative stability in global crude oil prices and movements in the exchange rate.

According to the NPA’s pricing notice dated April 28, the minimum prices for the first half of May have been set as follows: petrol at GH¢13.25 per litre, diesel at GH¢14.30 per litre, LPG at GH¢13.02 per kilogramme, kerosene at GH¢16.13 per litre, and marine gas oil (local) at GH¢15.41 per litre.

Diesel recorded the most significant reduction, dropping by GH¢1.80 compared to prices in the previous mid-April window. Petrol prices, however, saw a marginal decrease of 2 pesewas.

The decline follows a volatile period earlier in April when diesel prices peaked at GH¢17.10 per litre, largely driven by a surge in global oil prices amid geopolitical tensions in the Middle East. With the latest adjustment, diesel prices have fallen by a total of GH¢2.80 from that peak.

In response to earlier price increases, the government had introduced measures to cushion consumers, including the removal of certain margins in the price build-up and a GH¢2.00 per litre subsidy on diesel. It remains unclear whether these interventions will be maintained or revised during the mid-year fiscal review.

The NPA has directed Oil Marketing Companies (OMCs) and LPG Marketing Companies (LPGMCs) to comply with the established price floors. However, as companies are allowed to apply competitive margins, pump prices may vary slightly across service stations.

Despite the reduction, transport operators say fuel costs remain relatively high and could continue to exert pressure on transport fares and overall inflation.

The new prices take effect on Friday, May 1, and will remain in force until the next review on May 15.

Prince Antwi

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