The National Petroleum Authority (NPA) has increased the price floors for petrol, diesel and liquefied petroleum gas (LPG) for the first pricing window of August, reflecting sustained upward pressure on fuel prices.
The latest pricing schedule showed higher minimum retail thresholds for all three petroleum products compared with the second pricing window of July.
The price floor for petrol has been increased to GH¢14.53 per litre from GH¢13.28 per litre, representing a rise of GH¢1.25, or 9.4 per cent.
Diesel recorded the highest increase, with its price floor rising to GH¢16.97 per litre from GH¢14.35 per litre, an increase of GH¢2.62, or 18.3 per cent.
The adjustment is expected to increase operating costs across key sectors, including transport, mining, construction, manufacturing and agriculture, where diesel remains a major production input.
The price floor for LPG has also been revised upward to GH¢11.06 per kilogram from GH¢10.19 per kilogram, representing an increase of GH¢0.87, or 8.5 per cent.
The NPA said the price floors represent the minimum retail thresholds that Oil Marketing Companies (OMCs) and LPG Marketing Companies (LPGMCs) are required to observe during the pricing window.
The authority explained that the price floors do not include premiums charged by International Oil Trading Companies (IOTCs), operating margins of Bulk Import, Distribution and Export Companies (BIDECs), or the marketers’ and dealers’ margins, which are determined independently under the Petroleum Product Pricing Guidelines.
The upward adjustments come amid rising international crude oil prices and the depreciation of the cedi against major trading currencies, factors that have continued to exert pressure on domestic fuel prices.
Higher fuel prices are expected to increase transportation, logistics and production costs, with possible spillover effects on transport fares and the prices of goods and services across the economy.
