Some Oil Marketing Companies OMCs have started reducing fuel prices, with major players Ghana Oil Company and Star Oil Company adjusting their pump prices in line with the National Petroleum Authority price floor.
Data indicates that both companies are now selling petrol at GH¢13.27 per litre, while diesel is priced at GH¢16.10 per litre.
GOIL, in a social media update, attributed the price adjustment to government’s decision to remove selected margins as part of efforts to ease the burden on consumers.
The company stated that its new pricing aligns with the NPA’s minimum price floor, aimed at offering some relief to the public.
The move by the two firms is expected to influence pricing strategies across the market, with over 200 OMCs likely to follow suit to remain competitive.
Earlier projections from the Chamber of Oil Marketing Companies suggested that petrol prices could increase by nearly 2 percent per litre, while diesel prices were expected to decline by about 3.8 percent.
The Chamber had argued that the weakening cedi and rising global crude oil prices would limit the impact of any government intervention on pump prices.
However, industry sources indicated that those projections did not fully reflect government’s decision to reduce margins by about GH¢2 on diesel and roughly 36 pesewas on petrol.
They noted that without these interventions, fuel prices could have risen more sharply, with the revised pricing taking effect from April 16, 2026.
Meanwhile, the NPA announced a new price floor for petroleum products on April 15, 2026, ahead of the latest pricing window.
Under the updated structure, petrol prices were slightly reduced to GH¢13.27 per litre from GH¢13.30, representing a drop of 3 pesewas.
Diesel recorded a more substantial reduction, falling to GH¢16.10 per litre from GH¢17.10, marking a decrease of GH¢1.00, one of the most significant cuts in recent times.
Liquefied Petroleum Gas LPG, however, saw a marginal increase, rising to GH¢10.79 per litre from GH¢10.71.
The NPA reiterated that all OMCs and LPG marketing companies are required to comply with the approved price floors in accordance with the Petroleum Products Pricing Guidelines.