Fuel prices to dip slightly as diesel sees sharp cut in May window

Fuel prices in Ghana are expected to drop slightly from May 1, 2026, according to the National Petroleum Authority (NPA), which has announced new lower price benchmarks especially for diesel.

In a pricing notice issued on April 28, the NPA said the changes are part of its regular bi-monthly review for the period May 1 to May 15, based on movements in global crude oil prices and the exchange rate.

“The National Petroleum Authority has set the ex-pump price floors for the May 1 to 15 window in line with the Petroleum Products Pricing Guidelines,” the statement said.

Under the new prices, petrol will sell at GH¢13.25 per litre, while diesel drops to GH¢14.30 per litre.

LPG is set at GH¢13.02 per kilogramme, with kerosene at GH¢16.13 and Marine Gas Oil (Local) at GH¢15.41.

Compared to mid-April prices, petrol has reduced slightly by 2 pesewas, while diesel has seen a more noticeable drop of GH¢1.80 per litre.

This marks a continued easing in fuel prices after sharp increases earlier in April, when diesel rose as high as GH¢17.10 per litre due to higher global oil prices and a weaker cedi.

That earlier spike was driven in part by geopolitical tensions in the Middle East, which pushed Brent crude above $100 per barrel at the time, increasing import costs for fuel-importing countries like Ghana.

By contrast, diesel prices have now dropped by GH¢2.80 from the early April peak, though they remain higher than levels recorded in February and early March.

The government has also been intervening to soften the impact on consumers by absorbing part of the pricing burden. From the April 16 window, it removed selected margins in the petroleum price build-up, including GH¢2.00 per litre on diesel and GH¢0.36 on petrol.

It is, however, not immediately clear whether those subsidies will continue into the new pricing window or be adjusted ahead of the mid-year fiscal review.

The NPA has reminded Oil Marketing Companies (OMCs) and LPG Marketing Companies (LPGMCs) that they are required to comply with the announced floors, although they are permitted to add their own margins, meaning actual pump prices may vary across stations.

“As per the Petroleum Products Pricing Guidelines, all OMCs and LPGMCs are entreated to comply with the above price floors for the window under consideration,” the Authority added.

The latest adjustment is expected to bring modest relief to consumers, but transport operators continue to warn that sustained high fuel prices could trigger fare adjustments, with wider implications for the cost of living and inflation pressures in the country.

The new pricing structure takes effect on May 1, 2026, and will be reviewed mid-month again.

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