Fuel prices have begun climbing even before the official adjustment window opens, with major oil marketer GOIL leading the charge. In a social media announcement, the company revealed that petrol has jumped from GH¢12.24 to GH¢13.30 per litre, while diesel has surged from GH¢15.69 to GH¢17.10.

The timing is raising eyebrows.

Under Ghana’s Price Deregulation Policy, new fuel prices are typically implemented within a set window — in this case, April 1 to April 15, 2026. But some Oil Marketing Companies (OMCs) appear to be moving early, citing a newly introduced price floor from the National Petroleum Authority (NPA).

The NPA’s directive, issued on March 30, sets significantly higher minimum prices for petroleum products:

Petrol: up from GH¢11.57 to GH¢13.30 per litre
Diesel: up from GH¢14.35 to GH¢17.10 per litre
LPG: marginally increased from GH¢10.67 to GH¢10.71 per kilogram

While the policy is meant to stabilize the market, critics argue it’s doing the opposite — locking in higher prices that could have otherwise been moderated.

What’s more, these “floor prices” don’t even reflect the final cost consumers pay. They exclude additional charges such as international trading premiums, distribution costs, and profit margins set by various players in the supply chain. In reality, pump prices could climb even further.
For now, it’s unclear how other major OMCs will respond. But if GOIL’s move is any indication, Ghanaians may need to brace for a wave of increases across the board.

And for many already grappling with the rising cost of living, this latest spike is more than just a policy shift — it’s another squeeze on already stretched wallets.

Source:TheDotNews