Fuel prices in Ghana are set to decline slightly from May 1, 2026, with significant reductions in diesel prices amid a backdrop of fluctuating global oil prices.
Earlier in April, diesel prices peaked at GH¢17.10 per litre due to higher global crude oil prices and a weaker cedi. Since then, the situation has changed. Global crude oil prices fell from $129.80 per barrel to $113.80 per barrel, a 12.33% decline.
The new pricing framework will take effect on May 1, 2026, and is scheduled for review in mid-May. The National Petroleum Authority set petrol price floors at GH¢13.25 per litre and diesel at GH¢14.30 per litre. In this new pricing window:
- Petrol prices are expected to drop by up to 0.51% per litre, retailing at around GH¢14.51.
- Diesel prices are projected to fall by 6.77%, likely selling at about GH¢15.87 per litre.
- Liquefied Petroleum Gas (LPG) is expected to rise by as much as 10.41% per kilogramme.
Compared to the previous mid-April window, petrol has seen a marginal drop of 2 pesewas, while diesel has declined by GH¢1.80 per litre. Diesel prices have fallen by GH¢2.80 from their early April peak.
The Chamber of Oil Marketing Companies noted that the increase reflects the delayed effect of the current tender arrangement, which cushioned earlier price hikes but is now beginning to reflect in market prices.
This reduction is expected to offer modest relief to consumers, transport operators, and businesses across Ghana. Market sentiment has shifted with traders confident that the kinetic phase of the US–Iran conflict is easing.
