Petrol pegged at GH¢14.53 as NPA announces new price floors for first pricing window of August

The National Petroleum Authority (NPA) has announced new minimum ex-pump price floors for petroleum products for the first pricing window of August, setting revised benchmark prices for fuel retailers across the country.

The new price floors take effect from Tuesday, August 4, and will remain in force until August 15.

Under the revised pricing schedule, the minimum ex-pump price for petrol has been fixed at GH¢14.53 per litre, while diesel will sell from GH¢14.97 per litre. Liquefied Petroleum Gas (LPG) has been pegged at GH¢11.06 per kilogramme.

The Authority has also set the minimum ex-pump price of Marine Gas Oil (MGO Local) at GH¢16.08 per litre, with kerosene priced at GH¢14.46 per litre.

In a statement issued on August 3, the NPA directed all Oil Marketing Companies (OMCs) and LPG Marketing Companies (LPGMCs) to comply with the newly approved price floors throughout the pricing window.

The Authority clarified that the announced figures represent only the minimum ex-pump price floors and do not include premiums charged by International Oil Trading Companies (IOTCs), the operating margins of Bulk Import, Distribution and Export Companies (BIDECs), or the marketers' and dealers' margins applied by OMCs and LPGMCs.

According to the NPA, these additional cost components will continue to be determined independently by the respective industry players in line with the Petroleum Product Pricing Guidelines (PPPG).