The National Petroleum Authority (NPA) has increased the price floor for various petroleum products, effective July 16, 2026.

Based on a notice sent to industry players and seen by JOY BUSINESS, the price for petrol has increased from GHC 12.79 to GHC 13.28 per litre.

Diesel has also been increased from GHC 13.54 to GHC 14.35 per litre.

The development means fuel prices are expected to increase from Thursday, July 16, 2026.

This is because, under the current regulations governing the industry, no Oil Marketing Company (OMC) or LPG Marketing Company (LPGMC) is permitted to sell petroleum products below the approved price floor during the pricing window.

It also means that any oil marketing company currently selling below these thresholds will be required to adjust its pump prices accordingly from July 16.

The expected review comes at a time when the Chamber of Petroleum Consumers had projected that fuel prices would rather decline despite rising crude oil prices on the international market. The projection was based on the relative stability of the Ghana cedi and the fact that international fuel prices had not increased significantly over the past two weeks.

In April 2024, the National Petroleum Authority implemented a price floor policy for petroleum products.

The directive requires oil marketing companies and LPG marketing companies to comply strictly with the minimum prices set for fuel sales.

According to the NPA, the policy was introduced to prevent price distortions and promote market stability within the downstream petroleum sector.

The Authority explained that the initiative aligns with the Petroleum Pricing Guidelines and is intended to enhance transparency, sustainability, and fairness in the fuel market.

The NPA has also argued that the policy would create a more predictable and balanced pricing structure, ultimately benefiting consumers while ensuring fair business practices.

The Authority further noted that the decision to implement the policy followed recommendations from various industry players.

However, some industry players have continued to raise concerns about the price floor, insisting that it deprives consumers of the opportunity to benefit from lower fuel prices.