Fuel prices in Ghana are expected to decline starting May 1, 2026, as the National Petroleum Authority (NPA) released its latest price floors for the upcoming bi-monthly window. The adjustment reflects a stabilization in global crude oil prices and shifts in the exchange rate.

New Price Floors (May 1 – May 15)

According to the NPA’s pricing notice dated April 28, the following minimum rates have been established for the first half of May:

- Petrol: GH¢13.25 per litre

- Diesel: GH¢14.30 per litre

- LPG: GH¢13.02 per kilogramme

- Kerosene: GH¢16.13 per litre

- Marine Gas Oil (Local): GH¢15.41 per litre

Significant Drop in Diesel Costs

The most notable change in this window is a GH¢1.80 reduction in the price of diesel compared to the mid-April window. Petrol, meanwhile, saw a marginal decrease of 2 pesewas.

This downward trend follows a volatile period in early April when diesel prices peaked at GH¢17.10 per litre. That spike was largely attributed to Brent crude prices surging above $100 per barrel amid heightened geopolitical tensions in the Middle East. With the new adjustment, diesel has now dropped by a total of GH¢2.80 from its April peak.

Policy and Market Impact

To mitigate the impact of high costs on the public, the government previously intervened by removing specific margins from the price build-up, including a GH¢2.00 per litre subsidy on diesel. It remains to be seen if these specific interventions will be maintained or adjusted during the mid-year fiscal review.

The NPA has instructed Oil Marketing Companies (OMCs) and LPG Marketing Companies (LPGMCs) to adhere to these price floors. However, since companies are permitted to add their own competitive margins, the actual price at the pump may vary slightly between service stations.

While the reduction offers modest relief, transport operators have cautioned that fuel costs remain high enough to maintain pressure on transport fares and general inflation. The new prices take effect this Friday and will remain in place until the next review on May 15.