Diesel Prices Drop Sharply from May 1, LPG Prices Rise by Over 10%
Petrol is expected to see a slight reduction, diesel will record one of the biggest price drops in recent months, while LPG consumers face a sharp increase of over 10% from May 1, 2026.
- Diesel prices are expected to drop by 6.77%, with pump prices likely selling at around GH¢15.87 per litre from May 1.
- Petrol prices may reduce slightly by 0.51%, while LPG prices are projected to rise sharply by 10.41% per kilogramme.
- The National Petroleum Authority has set new price floors for all OMCs, with petrol pegged at GH¢13.25, diesel at GH¢14.30, and LPG at GH¢13.02.
Ghanaians should prepare for mixed fuel price adjustments from Thursday, May 1, 2026, as diesel records a significant price cut, petrol sees a slight reduction, while Liquefied Petroleum Gas (LPG) is expected to surge sharply.
According to new data from the Chamber of Oil Marketing Companies (COMAC), petrol prices could fall by up to 0.51% per litre, with some Oil Marketing Companies (OMCs) likely to sell petrol at about GH¢14.51 per litre, especially those purchasing products on credit from Bulk Oil Distributing Companies.
Diesel users are expected to enjoy one of the biggest reliefs in recent months, as prices are projected to drop by 6.77%, bringing the pump price to around GH¢15.87 per litre.
However, LPG consumers may face a tough adjustment, with prices expected to jump by as much as 10.41% per kilogramme despite lower prices on the international market.
The Chamber explained that the sharp rise in LPG prices is due to “the delayed effect of the current tender arrangement, which cushioned earlier price hikes, but is now beginning to reflect in market prices.”
Why Prices Are Moving in Different Directions
COMAC attributed the reduction in petrol and diesel prices mainly to falling international crude oil prices and ongoing government-industry interventions designed to cushion consumers.
Global crude oil prices dropped significantly during the pricing window, falling from $129.80 per barrel to $113.80 per barrel — a 12.33% decline.
The Chamber also noted that global market confidence improved as traders believe the kinetic phase of the US-Iran conflict is easing or may have passed.
Refined petroleum product prices also recorded declines internationally. Diesel posted the sharpest fall at 14.16%, followed by LPG at 13.11%, while petrol dropped by 1.08%.
Despite these reductions, the gains were partly offset by the Ghana cedi’s depreciation against major foreign currencies.
The cedi weakened slightly against the US dollar, moving from GH¢11.1324 to GH¢11.2057, representing a 0.65% decline.
NPA Sets New Price Floors
The National Petroleum Authority (NPA) has already announced new price floors under the Petroleum Products Pricing Guidelines (PPPG), with all OMCs expected to comply.
Petrol has been pegged at a minimum of GH¢13.25 per litre, excluding additional margins and charges.
Diesel has a floor price of GH¢14.30 per litre, while LPG has been set at GH¢13.02 per kilogramme.
Kerosene and Marine Gas Oil Local are pegged at GH¢16.13 and GH¢15.41 respectively.
Compared to the previous mid-April pricing window, petrol has seen only a marginal 2-pesewa reduction, but diesel has dropped significantly by GH¢1.80 per litre.
In a directive to OMCs, the NPA stated:
“As per the Petroleum Products Pricing Guidelines (PPPG), all Oil Marketing Companies (OMCs) and LPG Marketing Companies (LPGMCs) are entreated to comply with the above price floors for the window under consideration.”
The Authority further clarified that the quoted prices exclude premiums charged by International Oil Trading Companies, as well as margins for Bulk Import, Distribution and Export Companies and retailers.
“These will be independently determined by the companies as pertains under the PPPG,” the statement added.
