Petrol prices could fall at the pumps from November 1, 2026, while diesel prices may increase slightly following new price floor adjustments by the National Petroleum Authority (NPA).
Market data shows that the petrol price floor for the November 1–15 pricing window has been reduced from GH¢16.09 to GH¢15.39 per litre.
The diesel price floor, however, has increased from GH¢17.09 to GH¢17.41 per litre.
Liquefied petroleum gas (LPG) could also become slightly cheaper, with its price floor falling from GH¢13.89 to GH¢13.73 per kilogram.
The adjustments suggest that motorists and households could experience mixed changes in fuel prices in the coming weeks, depending on how individual oil marketing companies set their pump prices.
The NPA’s price floors are not the final prices consumers will pay at fuel stations.
They exclude several charges, including premiums applied by International Oil Trading Companies and operating margins charged by Bulk Import, Distribution and Export Companies, Oil Marketing Companies and LPG Marketing Companies.
These companies determine their respective charges under the prescribed Petroleum Products Pricing Formula.
Consequently, the reduction in petrol and LPG price floors could create room for lower prices at the pumps, while the increase in the diesel floor could put upward pressure on diesel prices.
One major oil marketing company currently sells petrol at GH¢16.45 per litre and diesel at GH¢17.95 per litre.
However, the extent of any changes will depend on the pricing decisions of individual marketers.
The latest adjustments come against the backdrop of rising international crude oil prices and fluctuations in the cedi’s value against the US dollar.
Recent appreciation of the local currency could help cushion the impact of higher global oil prices on domestic fuel costs.
During the October 16, 2026 pricing window, petrol and diesel prices recorded marginal reductions at the pumps, while LPG prices were projected to increase by about 18.5% per kilogram.
The Chamber of Oil Marketing Companies attributed the reductions in petrol and diesel prices to movements in international refined petroleum product prices and government subsidy measures.
In its report covering the period, the Chamber said average crude oil prices rose by 2.03% to US$126.73 per barrel amid renewed concerns about global supply.
However, international refined product prices moved in different directions.
LPG prices increased by 7.77%, while diesel and petrol prices declined by 6.68% and 3.93%, respectively.
The cedi also depreciated by 1.61% to GH¢11.8222 per US dollar, based on average bank rates between September 26 and October 11, 2026.
According to the Chamber, the currency had lost more than 11% of its value against the dollar since the beginning of the year, with seasonal import demand and higher energy costs contributing to the pressure.
Despite these challenges, lower international prices for petrol and diesel, alongside government subsidy measures, helped support modest reductions at the pumps during the October 16 pricing window.
With the November 1 adjustments approaching, consumers will be watching closely to see whether lower petrol and LPG price floors translate into actual savings, or whether higher diesel costs add to transportation and business expenses.
