The National Petroleum Authority (NPA) has set new minimum price floors for petroleum products during the first pricing window of February 2026, from February 1 to 15. Oil Marketing Companies (OMCs) and LPG Marketing Companies (LPGMCs) must not sell below these levels.
Reports indicate that diesel price floor rising to GH¢10.95 per litre from GH¢10.47, petrol to GH¢9.99 per litre from GH¢9.80, and LPG at GH¢9.05 per kilogram Companies selling below these must now adjust pump prices to comply.
Policy Background
The NPA introduced the price floor policy in April 2024 to curb price distortions, ensure market stability, and align with Petroleum Pricing Guidelines. It promotes transparency, sustainability, fairness, and predictable pricing benefiting consumers and fair business following industry complaints of undercutting by some operators.
Industry Debate
The hike fuels ongoing tensions. Market leader Star Oil quit the Chamber of Oil Marketing Companies (COMAC) after a board vote allowing the NPA to proceed. With COMAC warning, the policy prevents industry collapse. Star Oil argues it restricts competitive pricing based on market conditions.
Story by: Mercy Addai Turkson #ahotoronline.com