The National Petroleum Authority (NPA) has announced an imminent reduction in fuel prices following the sharp drop in commodity prices in the recent pricing window.

The Authority in a pricing notice dated April 28 indicated that, effective May 1, Ghanaians will see some relief after the recent increase in prices linked to the Middle East conflict.

The NPA said the adjustment forms part of its bi-monthly review mechanism covering May 1 to May 15, reflecting shifts in global crude prices and exchange rate movements.

“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 indicated.

Under the new rates, petrol has been set at GH¢13.25 per litre, while diesel now stands at GH¢14.30 per litre.

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

Compared to the previous pricing window in mid-April, petrol has seen a marginal reduction of 2 pesewas, while diesel has dropped significantly by GH¢1.80 per litre.

The adjustment continues a gradual easing trend following sharp increases recorded earlier in April, when diesel peaked at GH¢17.10 per litre due to rising global crude 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.

Govt reportedly lost GHS200m due to fuel price drop earlier

The Ministry of Energy, through spokesperson Richmond Rockson, disclosed that the government would have accrued an estimated GH¢200 million in revenue if fuel prices had remained unchanged.

Addressing the media on Wednesday, April 15, he stated, “This will lead to a net loss of about GH¢200 million that could have accrued to the government, but it is a necessary sacrifice to bring relief to the people of Ghana”.

During an emergency Cabinet meeting held on Thursday, April 9, President Mahama instructed the Minister for Finance, Dr. Cassiel Ato Forson, and the Minister for Energy to immediately begin the process of reviewing and removing the affected taxes.

In view of that, the government absorbed GH¢2.00 per litre on diesel and GH¢0.36 per litre on petrol in the upcoming pricing window effective Thursday, April 16.

At the time, two Oil Marketing Companies (OMCs), GOIL and Star Oil, had lowered their pump prices. The two companies were selling petrol at GH¢13.27 per litre, while diesel was going for GH¢16.10 per litre.

President John Dramani Mahama said the decision was aimed at cushioning Ghanaians from rising fuel prices, which had been driven by global supply disruptions linked to tensions involving Iran, Israel, and the United States.

The ongoing tension had led to the closure of the Strait of Hormuz, a critical global oil shipping route. The ongoing tensions between Iran, the U.S., and Israel had been linked to the death of Iran’s Supreme Leader, Ayatollah Ali Khamenei.

Ayatollah Ali Khamenei was reportedly killed in strikes by the United States (U.S.) and Israel. This development was significantly impacting travellers from Ghana to Asia, Europe, and North America, as Dubai is a major transit hub connecting travellers through the United Arab Emirates.

Before then, petrol and diesel were selling at GH¢13.30 and GH¢17.10 per litre, respectively, at the pumps. In a social media post on Tuesday, March 31, GOIL announced that it had increased petrol to GH¢13.30 per litre from GH¢12.24, and diesel from GH¢15.69 to GH¢17.10 per litre.

Star Oil also increased petrol from GH¢12.19 to GH¢13.49 per litre. It also increased the price of diesel from GH¢14.25 to GH¢17.97. The adjustment followed a new price floor announced by the National Petroleum Authority (NPA) on March 30, directing Oil Marketing Companies (OMCs) to implement the changes from Wednesday, April 1.

On Monday, March 16, petroleum products at the pumps saw an increase following an adjustment by the NPA for the second pricing window for the month.

As a result, petrol priced at GHȼ10.46 per litre was sold at GHȼ11.57. The price floor for diesel had jumped from GH¢11.42 to GH¢14.35 per litre, and LPG had risen from GH¢9.38 to GH¢10.67 per kilogramme. Meanwhile, Ghana’s petroleum sector had recorded a decline in the second half of 2025.