NPA raises fuel price floors for August first pricing window: See latest petrol, diesel and LPG rates

• The National Petroleum Authority (NPA) has increased the price floors for petrol, diesel and LPG for the first pricing window of August 2026, marking the second consecutive upward adjustment in benchmark fuel prices.

• Diesel recorded the biggest increase, with its price floor rising by 18.3 per cent to GH¢16.97 per litre, while petrol increased by 9.4 per cent to GH¢14.53 per litre and LPG rose by 8.5 per cent to GH¢11.06 per kilogram.

• The increases are being driven by higher global crude oil prices and the depreciation of the Ghana cedi, with the adjustments expected to raise transport, production and household energy costs across the country.

Figures published by the NPA show that all three petroleum products recorded higher minimum retail thresholds compared with the second pricing window of July, raising concerns over the cost of living and the cost of doing business across the country.

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The price floor for petrol has been increased to GH¢14.53 per litre, up from GH¢13.28 per litre during the second pricing window of July. This represents an increase of GH¢1.25 per litre, or 9.4 per cent, one of the sharpest petrol price floor adjustments in recent pricing cycles.

Diesel recorded the largest increase among the three products. Its price floor has risen to GH¢16.97 per litre from GH¢14.35 per litre, an increase of GH¢2.62 per litre, representing an 18.3 per cent rise. Given diesel's importance to transportation, industry and power generation, the increase is expected to have widespread economic implications.

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LPG has also become more expensive, with its price floor rising to GH¢11.06 per kilogram from GH¢10.19 per kilogram, an increase of GH¢0.87 per kilogram, or 8.5 per cent. The adjustment is likely to increase household cooking costs for many families that rely on LPG as their primary fuel.

The published price floors are not the final pump prices consumers will pay. Instead, they represent the minimum retail prices that Oil Marketing Companies (OMCs) and LPG Marketing Companies (LPGMCs) must observe during the pricing window under the Petroleum Product Pricing Guidelines (PPPG).

The NPA's published thresholds exclude premiums charged by International Oil Trading Companies (IOTCs), the operating margins of Bulk Import, Distribution and Export Companies (BIDECs), as well as marketers' and dealers' margins, all of which are determined independently. As a result, actual pump prices at filling stations may be higher once these additional costs are applied.

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The latest adjustments follow increases introduced during the second pricing window of July, which took effect on 16th July, 2026.

During that period, the petrol price floor increased from GH¢12.79 per litre to GH¢13.28 per litre, representing a 3.8 per cent rise. Diesel increased from GH¢13.54 per litre to GH¢14.35 per litre, a 6.0 per cent increase, while LPG edged up from GH¢10.11 per kilogram to GH¢10.19 per kilogram, an increase of 0.8 per cent.

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The latest August adjustments indicate that the pace of fuel price increases has accelerated significantly. Diesel, in particular, has moved from a 6.0 per cent increase in the second pricing window of July to an 18.3 per cent increase in the first pricing window of August, highlighting mounting cost pressures within the petroleum market.

Several factors are behind the latest upward adjustments, notably rising global crude oil prices and the continued depreciation of the Ghana cedi against the United States dollar.

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Brent crude oil prices have increased amid renewed geopolitical tensions involving the United States and Iran, pushing up the international cost of crude oil. Since Ghana imports refined petroleum products and crude oil is traded in US dollars, higher global oil prices feed directly into the country's fuel pricing structure through increased import costs.

The impact has been compounded by the weakening of the cedi. According to the Bank of Ghana's July 2026 Summary of Economic and Financial Data, the cedi had depreciated by 9.5 per cent against the US dollar by the end of July. Because petroleum products are purchased in dollars, a weaker cedi increases import costs, which are ultimately reflected in higher price floors and pump prices.

Together, higher international crude oil prices and currency depreciation have reversed the downward trend in fuel price benchmarks recorded earlier in the year.

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The sharp increase in diesel prices is expected to have the greatest impact across the economy, given the fuel's importance to transportation, mining, construction, agriculture and manufacturing.

Higher diesel costs are likely to increase operating expenses for commercial transport operators, potentially triggering calls for higher transport fares. Mining and construction companies may also face higher production costs as heavy machinery relies heavily on diesel.

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The agricultural sector could also be affected, as diesel powers irrigation systems, farm equipment and the transportation of produce. Increased fuel costs may therefore contribute to higher food prices.

Manufacturers that depend on diesel-powered generators may experience rising production costs, particularly where electricity supply is unreliable, with those additional costs potentially being passed on to consumers.

The increase in LPG prices is also expected to place additional pressure on household budgets, especially among lower-income families that rely on LPG for daily cooking.

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With the new price floors taking effect during the first pricing window of August, motorists, businesses and households should prepare for higher pump prices as OMCs adjust their retail prices in line with the revised minimum thresholds and their own operational costs.

Industry analysts believe fuel prices could remain under pressure in the coming pricing windows if global crude oil prices stay elevated and the cedi continues to weaken against the US dollar. Such a scenario would likely increase transportation costs, raise the prices of goods and services, and further strain household budgets.

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The NPA has maintained that periodic adjustments to fuel price floors are intended to reflect prevailing conditions in both the international and domestic petroleum markets, ensuring that pricing remains responsive to changing economic conditions.