Some Oil Marketing Companies have begun reducing ex-pump fuel prices at the start of the first pricing window of May, signalling a marginal easing in Ghana’s downstream petroleum market.
State-owned GOIL is now selling petrol at GH¢13.25 per litre, down by 2 pesewas from GH¢13.27 recorded in the second pricing window of April.
Diesel prices have seen a more significant drop, falling by 44 pesewas to GH¢15.66 per litre from GH¢16.10. GOIL’s premium grade Super XP 95, however, remains unchanged at GH¢15.77 per litre.
Star Oil has also adjusted its prices. Petrol is now selling at GH¢13.25 per litre, reflecting a 2 pesewas reduction, while diesel has declined by 55 pesewas to GH¢15.55 per litre from GH¢16.10. Its RON 95 product remains unchanged at GH¢14.67 per litre.
The adjustments are in line with projections of modest price moderation for the May pricing window, driven by lower global oil benchmarks and the continued impact of a joint government and industry intervention aimed at cushioning consumers.
More Oil Marketing Companies are expected to review their prices in the coming days as global crude oil trends and exchange rate movements continue to shape the local pricing outlook.
Meanwhile, the National Petroleum Authority has slightly reduced the price floors for petrol and diesel for the first pricing window of May, in line with developments on the international market.
Petrol is expected to sell at a minimum of GH¢13.25 per litre, down from GH¢13.27 in the previous window. The diesel price floor has dropped more sharply to GH¢14.30 per litre from GH¢16.10, representing a reduction of GH¢1.80.
In contrast, the price floor for liquefied petroleum gas has risen significantly to GH¢13.02 per kilogram from GH¢10.79, marking an increase of GH¢2.23.
The NPA maintains that all Oil Marketing Companies and LPG Marketing Companies must comply with the approved price floors under the Petroleum Products Pricing Guidelines.
The regulator explained that the announced price floors exclude premiums charged by international oil trading companies, as well as operating margins for bulk importers, distributors and exporters, in addition to marketers and dealers.
These components remain variable and are determined independently by industry players within the framework of the pricing guidelines.
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Fuel prices dip slightly as OMCs adjust rates for May window
