NPA sets new price floor for petroleum products

The National Petroleum Authority (NPA) has introduced a price floor for petroleum products in the second pricing window of February 2025, mandating that Oil Marketing Companies (OMCs) and LPG Marketing Companies (LPGMCs) adhere to set minimum prices.

The price floor for petrol and diesel is set at GHȼ12.56 and GHȼ13.45 per litre, respectively, while LPG is fixed at GHȼ14.26 per kilogram. The directive, effective from February 16 to 28, aims to ensure stability in the downstream sector.

However, the price floors exclude premiums charged by International Oil Trading Companies (IOTCs) and the operational margins of various companies, which will continue to be determined independently. The NPA’s move seeks to prevent price undercutting and market destabilization.