The National Petroleum Authority (NPA) has announced new minimum price floors for petroleum products for the second pricing window of March, signaling a likely rise in fuel prices across the country from March 16 to March 31.
Under the revised benchmark, petrol will now sell at a minimum price of GH¢11.57 per litre, up from GH¢10.46, while diesel has jumped sharply from GH¢11.42 to GH¢14.35 per litre.
Liquefied Petroleum Gas (LPG) has also been adjusted upward from GH¢9.38 to GH¢10.67 per kilogram.
In a notice to Oil Marketing Companies, the Authority said all industry players must comply with the approved thresholds.
“As per the Petroleum Products Pricing Guidelines, all Oil Marketing Companies and LPG Marketing Companies are entreated to comply with the above price floors for the window under consideration,” the NPA stated.
The regulator explained that the quoted prices do not include premiums charged by International Oil Trading Companies as well as operational margins of bulk importers and marketers, which will be determined independently.
Industry analysts say once these additional charges are factored in, consumers could pay significantly higher prices at the pumps.
The new directive means oil marketing companies will not be permitted to sell below the set price floors during the pricing window, limiting their ability to cushion consumers through discount pricing strategies.
Industry players have already warned that fuel prices could climb even higher in the coming days, with some projections suggesting a litre of fuel could sell between GH¢14 and GH¢17 depending on market conditions.
