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The National Petroleum Authority has announced new minimum fuel prices for the first pricing window of April, with diesel set at GH¢17.10 per litre and petrol at GH¢13.30 per litre. Liquefied Petroleum Gas (LPG) will also retail at a minimum of GH¢10.71 per kilogram.
The updated price benchmarks reflect recent developments in the global oil market, particularly ongoing geopolitical tensions in the Middle East that continue to influence crude oil prices.
These new rates represent a notable increase compared to the second pricing window of March (March 16–31), when petrol, diesel, and LPG were priced at GH¢11.57, GH¢14.35, and GH¢10.67 respectively.
According to the revised pricing guidelines, the price floor serves as the lowest allowable price at which Oil Marketing Companies (OMCs) and LPG Marketing Companies (LPGMCs) can sell petroleum products.
Market observers will be watching closely to see how competition among OMCs unfolds in the new pricing window, especially after the intense price competition recorded toward the end of March.
Regulators have emphasized that all industry players must adhere to the new minimum pricing or risk facing sanctions.
Source: citinews
