The National Petroleum Authority (NPA) has set new minimum price floors for petroleum products for the second pricing window of March, effective March 16 to March 31.

Under the revised price floor, petrol has increased from GH¢10.46 to GH¢11.57 per litre.

Diesel has also seen a significant adjustment, rising from GH¢11.42 to GH¢14.35 per litre. Industry observers say this could be one of the sharpest movements in the price floor for a single product in recent times.

Liquefied Petroleum Gas (LPG) has also been adjusted upward to GH¢10.67 per kilogram, from GH¢9.38 previously.

In a notice to Oil Marketing Companies (OMCs) sighted by JoyBusiness, the NPA stated: “As per the Petroleum Products Pricing Guidelines (PPPG), all Oil Marketing Companies (OMCs) and LPG Marketing Companies (LPGMCs) are entreated to comply with the above price floors for the window under consideration.”

The Authority also clarified that the quoted prices exclude premiums charged by International Oil Trading Companies (IOTCs), as well as the operating margins of Bulk Import, Distribution and Export Companies (BIDECs) and the marketers’ and dealers’ margins of OMCs and LPGMCs.

It added that “these will be independently determined by the companies as pertains under the PPPG.”

IMPLICATIONS

The new thresholds mean that no Oil Marketing Company or LPG Marketing Company will be permitted to sell below the approved price floors during this period.

Companies currently selling below these levels will have to adjust their pump prices upward to comply with the directive.

The new benchmark also offers an indication of expected pump prices from March 16.

This means petrol cannot be sold below GH¢11.57 per litre, while diesel cannot be sold below GH¢14.35 per litre.

Once additional levies, margins and operational charges are factored in, consumers are expected to pay significantly more at the pumps.

Industry concerns

Several industry players engaged by JoyBusiness have projected that this pricing window may record one of the steepest increases in recent months.

The Chief Executive of the Chamber of Bulk Oil Distributors, Dr Riverson Oppong, earlier told JoyBusiness that a litre of fuel could sell for as much as GH¢17 based on current developments in the Middle East.

The Executive Secretary of the Chamber of Petroleum Consumers (COPEC), Duncan Amoah, also warned in a separate interview with JoyBusiness on March 12, 2026, that fuel prices could range between GH¢14 and GH¢16 per litre.

Another concern is that oil marketing companies may have limited room to cushion consumers through selective discount pricing.

In the past, some major oil marketing companies used such strategies to offer consumers slightly lower prices. However, with the new price floors in place, that option may be restricted.

It remains unclear whether competition among oil marketing companies will lead some of them to absorb part of the expected cost increases.