The National Petroleum Authority (NPA) has announced lower benchmark price floors for petrol, diesel and liquefied petroleum gas (LPG) for the second pricing window of June, citing favourable developments on the international market and changing industry conditions.
According to the regulator’s latest pricing schedule, diesel will have a benchmark price floor of GH¢15.11 per litre, down from GH¢15.49 per litre recorded during the first pricing window of June. The reduction of GH¢0.38 per litre represents a decline of about 2.5%.
Petrol recorded the largest adjustment, with its benchmark price floor dropping to GH¢13.39 per litre from GH¢15.20 per litre previously. The decrease of GH¢1.81 per litre translates into a nearly 12% reduction.
For LPG, the minimum benchmark price has been revised downward to GH¢13.23 per kilogram from GH¢13.48 per kilogram, reflecting a decline of GH¢0.25 per kilogram or approximately 1.9%.
The price floors serve as the minimum benchmark prices expected to guide retail sales by Oil Marketing Companies (OMCs) and LPG Marketing Companies (LPGMCs) during the second pricing window of the month.
The NPA said all industry players are required to adhere to the benchmark prices in accordance with the Petroleum Product Pricing Guidelines (PPPG).
The authority, however, explained that the benchmark prices do not include premiums charged by International Oil Trading Companies (IOTCs), the operating margins of Bulk Import, Distribution and Export Companies (BIDECs), or marketers’ and dealers’ margins, which are determined independently under the PPPG framework.
The downward revision comes as government reviews fuel relief interventions introduced to mitigate the impact of rising global oil prices linked to geopolitical tensions in the Middle East.
Under the revised measures, support on petrol has been withdrawn, while the subsidy on diesel has been reduced from GH¢2.00 to GH¢1.07 per litre.
