The National Petroleum Authority (NPA) has announced new minimum price levels for petroleum products for the first pricing window of February 2026, covering the period from February 1 to February 15.
Under the directive, Oil Marketing Companies (OMCs) and Liquefied Petroleum Gas Marketing Companies (LPGMCs) are prohibited from selling petroleum products below the approved price floor during the period.
According to a price update published by Joy Business, the price floor for diesel has been increased to GH¢10.95 per litre, up from GH¢10.47. Petrol has also seen an upward adjustment, with the minimum price set at GH¢9.99 per litre, compared to the previous GH¢9.80.
Liquefied Petroleum Gas (LPG) is now priced at a minimum of GH¢9.05 per kilogram.
The adjustment means that oil marketing companies currently selling below these thresholds will be required to revise their pump prices to comply with the NPA’s directive.
Background
In April 2024, the NPA introduced a price floor policy for petroleum products, requiring OMCs and LPGMCs to strictly adhere to minimum prices set for fuel sales.
The Authority said the policy was aimed at preventing price distortions and promoting stability in the downstream petroleum sector. It explained that the initiative aligns with the Petroleum Pricing Guidelines and seeks to improve transparency, sustainability and fairness in the fuel market.
According to the NPA, the policy is also intended to create a more predictable and balanced pricing structure that benefits consumers while ensuring fair competition among industry players.
The Authority noted that the decision followed recommendations from stakeholders in the sector, citing persistent non-compliance with pricing rules by some operators, including what it described as serious price undercutting.
Industry concerns
The latest adjustment comes amid ongoing debate within the industry, which recently led market leader Star Oil to withdraw from the Chamber of Oil Marketing Companies (COMAC).
After an emergency board meeting, a majority of COMAC members voted to allow the NPA to continue implementing the price floor programme, arguing that it is necessary to prevent the collapse of the downstream petroleum industry.
Star Oil, however, has maintained that the price floor policy restricts its ability to set competitive prices based on prevailing market conditions.
