Some Oil Marketing Companies (OMCs) have begun reducing fuel prices across the market, with leading players GOIL and Star Oil lowering their pump prices.

Data gathered by JoyBusiness shows that the two companies are now selling petrol at GH¢13.27 per litre, while diesel is going for GH¢16.10 per litre.

GOIL, in a social media post, indicated that the move was influenced by government’s decision to remove selected margins to ease the burden on consumers.

The company noted that it had adjusted its prices to align with the National Petroleum Authority (NPA) price floor to provide relief to Ghanaians.

The move by these market leaders is expected to influence pricing decisions among more than 200 OMCs across the country, as competitors seek to maintain their market share.

Earlier data from the Chamber of Oil Marketing Companies suggested that petrol prices could rise by nearly 2% per litre, while diesel prices were projected to fall by about 3.8%.

The Chamber had argued that the depreciation of the cedi and rising global crude oil prices meant government’s intervention would not lead to significant reductions at the pumps.

However, industry players told JoyBusiness that those projections did not fully account for government’s decision to cut about GH¢2 on diesel through margins and approximately 36 pesewas on petrol.

They noted that prices could have increased more sharply if the interventions had not been introduced, with the new pricing expected to take effect from April 16, 2026.

National Petroleum Authority’s Price Floor

The National Petroleum Authority, on April 15, 2026, announced a new minimum price floor for petroleum products for the April 16 pricing window.

Under the revised structure, petrol has been reduced marginally to GH¢13.27 per litre from GH¢13.30, representing a 3 pesewa drop.

Diesel recorded the most significant reduction, falling to GH¢16.10 per litre from GH¢17.10, marking a decrease of GH¢1.00 — one of the largest drops in recent times.

Liquefied Petroleum Gas (LPG), however, saw a slight increase, rising to GH¢10.79 from GH¢10.71.

The NPA stated that, in line with the Petroleum Products Pricing Guidelines, all OMCs and LPG Marketing Companies are required to comply with the approved price floors for the period under review.

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Some fuel companies begin price cuts as GOIL, Star Oil adjust prices

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