Fuel Prices Dip Slightly as NPA Announces New Rates for May

Fuel prices in Ghana are set to decline slightly from May 1, 2026, following the announcement of new price floors by the National Petroleum Authority (NPA) under its latest pricing window.

In a notice dated April 28, the NPA explained that the adjustment is part of its bi-monthly review for the period May 1 to May 15, influenced by changes in global crude oil prices and exchange rate movements.

“The National Petroleum Authority has set the ex-pump price floors for the May 1 to 15 window in line with the Petroleum Products Pricing Guidelines,” the statement said.

Under the revised rates, petrol will sell at GH¢13.25 per litre, while diesel has been reduced to GH¢14.30 per litre.

Liquefied Petroleum Gas (LPG) is pegged at GH¢13.02 per kilogramme, with kerosene and Marine Gas Oil Local priced at GH¢16.13 and GH¢15.41 respectively.

Compared to the previous mid-April window, petrol has recorded a slight decrease of 2 pesewas per litre, while diesel has dropped significantly by GH¢1.80 per litre.

This continues a downward trend after sharp increases earlier in April, when diesel prices peaked at GH¢17.10 per litre due to rising global crude oil prices and a weakening cedi.

The earlier surge was partly driven by geopolitical tensions in the Middle East, which pushed Brent crude prices above $100 per barrel, increasing import costs for countries like Ghana.

Despite the recent reduction, diesel prices remain higher than levels recorded in February and early March, although they have fallen by about GH¢2.80 from their early April peak.

Government interventions have also played a role in easing the burden on consumers. From the April 16 pricing window, selected margins in the fuel price build-up were removed, including GH¢2.00 per litre on diesel and GH¢0.36 on petrol.

However, it remains unclear whether these subsidies will continue under the new pricing window or be reviewed ahead of the mid-year fiscal assessment.

The NPA has urged Oil Marketing Companies (OMCs) and LPG Marketing Companies (LPGMCs) to adhere to the approved price floors, while noting that final pump prices may vary depending on additional margins applied by individual companies.

“As per the Petroleum Products Pricing Guidelines, all OMCs and LPGMCs are entreated to comply with the above price floors for the window under consideration,” the Authority added.

The latest adjustments are expected to offer some relief to consumers, although transport operators have cautioned that persistently high fuel prices could lead to fare increases, with broader effects on the cost of living and inflation.

The new prices take effect from May 1, 2026, and will be subject to review again in mid-May.