Consumers should brace themselves to pay more for petroleum products in the coming days.

This is because the National Petroleum Authority (NPA) has released the price floor for August 1 to 15, 2026, suggesting a likely increase in fuel prices.

Based on the price floor, diesel may witness the highest increase in the new price window, as it has moved from GH¢14.35 to GH¢16.97 per litre.

Petrol, on the other hand, could be going up by more than 9.0%, as it has increased to GH¢14.53 from GH¢13.28.

LPG will also now sell at GH¢11.06.

The NPA in the notice reminded all industry players, including Oil  Marketing Company (OMCs) and LPG Marketing Company (LPGMC), not to sell petroleum products below the approved price floor during the pricing window.

The expected review comes at a time when the Chamber of Petroleum Consumers (COPEC) had projected that fuel prices could go up by some significant margin from the beginning of next month August 1, 2026. 

The projection was based on the current pressure on the cedi and the increase in the price of finished petroleum products on the international market.

The NPA stated that price floors exclude the premiums charged by International Oil Trading Companies (IOTCs) and the operating margins of BIDECs, as well as the Marketers’ and Dealers’ Margins of OMCs/LPGMCs. These will be independently determined by the companies as pertains under the PPPG.

Joy Business understands that most OMCs will be working with this new  price floor for the coming window.

Players to Increase Prices Before August 1

Based on the current deregulation policy, fuel prices are normally reviewed on the first and 15^th of every month.

However, even before that period, some OMCS review their prices.

The Managing Director of Star Oil in a Facebook post stated that the decision to review prices again before August 1 was due to the sharp rise in international prices. The world market prices of gasoline have increased by nearly 20%, while diesel prices have risen by approximately 25%.

Another major player that spoke on condition of anonymity told Joy Business it is moving to spot pricing, based on current developments on the international market.

Its decision to increase prices is based on the fact that the Bulk Oil Distribution Companies have increased their prices even before the August 1, 2026 date.

On the other hand, the BDCs told Joy Business that due to the current price volatility on the international market, most their members have moved to spot pricing of their various products. Some also use daily triggers to buy products from the IOTCs.

The Chief Executive Officer of the Chamber of Bulk Oil Distributors, Dr. Kweku Ofori explained that this is due to the renewed clashes between USA and Iran, causing crude oil and petroleum products to rise by almost 20%.