Accra: Fuel prices have seen a slight drop at the pumps as May's first pricing window begins, offering some relief to consumers after recent fluctuations in the petroleum market. At GOIL, petrol is now selling at GHS13.25 per litre, down marginally from GHS13.27 in the previous pricing window. Diesel recorded a more noticeable reduction at GOIL, falling by 44 pesewas to GHS15.66 per litre from GHS16.10, while its Super XP 95 remains unchanged at GHS15.77 per litre.
According to Ghana Web, Star Oil has adjusted its prices, with petrol now going for GHS13.25 per litre, reflecting a 2 pesewas dip. Diesel at Star Oil dropped by 55 pesewas to GHS15.55 per litre from GHS16.10, while its RON 95 product continues to sell at GHS14.67 per litre. The modest reductions are consistent with earlier projections for May, largely driven by easing global oil prices and the impact of ongoing government-industry efforts to stabilise the market.
Other Oil Marketing Companies are expected to announce their revised prices in the coming days, as external factors such as exchange rate movements and international benchmarks continue to influence pricing. Meanwhile, the National Petroleum Authority (NPA) has also reviewed its price floors for the new pricing window.
The minimum price for petrol has been set at GHS13.25 per litre, slightly down from GHS13.27, while diesel's price floor has dropped significantly to GHS14.30 per litre from GHS16.10, representing a GHS1.80 reduction. In contrast, LPG has recorded a sharp increase, with its price floor rising to GHS13.02 per kilogram from GHS10.79 - an increase of GHS2.23.
The NPA emphasised that all OMCs and LPG Marketing Companies are required to comply with the approved price floors under the Petroleum Products Pricing Guidelines. It added that the announced figures do not include additional charges such as international trading premiums and operational margins, which are determined separately by industry players within the regulatory framework.