Fuel prices are beginning to ease at the pumps as some Oil Marketing Companies (OMCs) roll out reductions, with industry leaders GOIL and Star Oil among the first to adjust their rates.
Checks by JoyBusiness show 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 update, GOIL said the price cuts were influenced by government’s decision to remove certain margins as part of efforts to reduce the burden on consumers. The company added that its revised prices are aligned with the minimum price floor set by the National Petroleum Authority (NPA), aimed at offering some relief to Ghanaians.
The move by these major players is expected to ripple across the market, potentially prompting over 200 OMCs nationwide to review their pricing strategies to remain competitive.
Earlier projections from the Chamber of Oil Marketing Companies suggested petrol prices could climb by nearly 2% per litre, while diesel was expected to drop by about 3.8%. The Chamber had argued that the weakening cedi and rising global crude oil prices would limit the impact of any government intervention.
However, industry insiders say those forecasts did not fully factor in the government’s latest measures, including a reduction of about GH¢2 on diesel margins and roughly 36 pesewas on petrol. Without these interventions, they note, prices could have risen more sharply. The revised pricing took effect from April 16, 2026.
New price floor takes effect
On April 15, 2026, the National Petroleum Authority announced a new minimum price floor for petroleum products for the upcoming pricing window.
Under the updated structure, petrol has been trimmed slightly to GH¢13.27 per litre from GH¢13.30 — a drop of 3 pesewas.
Diesel recorded the most notable reduction, falling from GH¢17.10 to GH¢16.10 per litre, a GH¢1.00 decrease — one of the steepest cuts seen in recent times.
Liquefied Petroleum Gas (LPG), however, moved in the opposite direction, inching up to GH¢10.79 from GH¢10.71.
The NPA says all OMCs and LPG marketing companies are required to comply with the approved price floors, in line with the country’s petroleum pricing guidelines.