Some Oil Marketing Companies (OMCs) have begun cutting fuel prices across the country, with major players GOIL and Star Oil leading the adjustments at the start of the new pricing window.
Data from JoyBusiness indicates that both companies are now selling petrol at GH¢13.27 per litre, while diesel is priced at GH¢16.10 per litre.
In a social media statement, GOIL said the reduction was influenced by government’s decision to remove selected fuel pricing margins in a bid to ease the financial burden on consumers. The company added that its new rates have been aligned with the pricing floor set by the National Petroleum Authority (NPA), as part of efforts to offer some relief at the pumps.
The move by these market leaders is expected to shape pricing decisions across the sector, with more than 200 OMCs likely to adjust their rates in order to remain competitive.
Earlier projections from the Chamber of Oil Marketing Companies had suggested petrol prices could rise by nearly 2% per litre, while diesel was expected to fall by about 3.8%. The Chamber had attributed this outlook to pressure from a weaker cedi and rising global crude oil prices, which it said could limit the impact of government interventions.
However, industry sources told JoyBusiness that those projections did not fully reflect the effect of government’s recent measures, including the removal of about GH¢2 per litre in diesel margins and roughly 36 pesewas on petrol. According to them, prices could have increased more sharply without these interventions. The new pricing window took effect on April 16, 2026.
NPA introduces new price floor
On April 15, 2026, the National Petroleum Authority announced a revised minimum price floor for petroleum products for the April 16 pricing window.
Under the new structure, petrol was reduced slightly to GH¢13.27 per litre from GH¢13.30, a drop of 3 pesewas.
Diesel recorded a sharper decline, falling from GH¢17.10 to GH¢16.10 per litre, a reduction of GH¢1.00—one of the biggest drops in recent times.
Liquefied Petroleum Gas (LPG), however, moved in the opposite direction, rising to GH¢10.79 from GH¢10.71.
The NPA has directed all OMCs and LPG marketing companies to comply with the approved price floors in line with its petroleum pricing guidelines for the period under review.