Petrol prices tipped to fall from Nov. 1 as diesel floor rises
Petrol prices could fall at the pump from November 1, 2026, while diesel prices may rise marginally after the National Petroleum Authority (NPA) adjusts its price floors.
The diesel floor, however, has increased from GH¢17.09 to GH¢17.41 per litre.
Liquefied petroleum gas (LPG) could also see some relief, with its price floor declining from GH¢13.89 to GH¢13.73 per kilogram.
These figures are price floors, not final retail prices.
The respective companies will determine those charges independently under the prescribed Petroleum Products Pricing Formula.
Impact
The adjustments could produce mixed price movements at the pumps during the next pricing window.
Lower price floors could give marketers room to reduce petrol and LPG prices. However, final adjustments will depend on the premiums and margins individual companies apply.
Some marketers could reduce prices, while others may leave them unchanged. The higher diesel floor also suggests upward pressure on its retail price.
Although international crude oil prices have been rising, the cedi’s recent appreciation may help cushion some of the pressure on local fuel prices.
Background and price quotes for October
Petrol and diesel prices recorded marginal reductions at the pumps from October 16, 2026. LPG prices, however, were projected to rise by about 18.5% per kilogram.
In its report for that period, the Chamber said average crude oil prices rose 2.03% to US$126.73 per barrel amid renewed supply concerns.
Refined petroleum products recorded mixed movements. International LPG prices rose 7.77%, while diesel and petrol prices fell 6.68% and 3.93%, respectively.
Over the same assessment period, the cedi depreciated by 1.61% to GH¢11.8222 per US dollar, based on average bank rates between September 26 and October 11, 2026.
Despite those pressures, lower international petrol and diesel prices, together with the subsidy measures, supported modest reductions at the pumps during the October 16 pricing window.
