Diesel and Petrol to Sell Above Gh¢17 per litre, Gh¢13 per litre Respectively From April 1

A new price floor set by the National Petroleum Authority (NPA) will see diesel selling at a minimum of GH¢17.10 per litre while petrol is pegged at a minimum of GH¢13.30 per litre, for the first pricing window of April.

Liquefied Petroleum Gas (LPG) will also sell at a minimum of GH¢10.71 per kilogram during the same period.

The revised price benchmarks reflect movements on the international oil market, amid renewed geopolitical tensions in the Middle East that continue to drive volatility in global crude prices.

The new price floor represents a sharp increase from the second pricing window of March (March 16–31), when petrol, diesel and LPG were set at GH¢11.57, GH¢14.35 and GH¢10.67, respectively.

Under the revised petroleum pricing guidelines, the price floor constitutes the minimum threshold at which Oil Marketing Companies (OMCs) and LPG Marketing Companies (LPGMCs) are permitted to retail petroleum products.

It remains to be seen how competition among OMCs evolves in the upcoming pricing window, following the intense price war witnessed in the latter part of March.

All industry players are expected to comply with the new price floor or face regulatory sanctions.

Source: CNR

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