Ghana Fuel Price Reduction Confirmed for May 2026: Petrol and Diesel Drop – But LPG Surges

Published: April 29, 2026

After weeks of volatility driven by geopolitical tensions and currency fluctuations, Ghana’s National Petroleum Authority (NPA) has officially announced a fuel price reduction for the May 2026 pricing window. Effective May 1, 2026, consumers will see a noticeable drop at the pumps—particularly for diesel—offering a respite for businesses and transport operators.

However, the news is mixed. While petrol and diesel prices fall, the cost of Liquefied Petroleum Gas (LPG) has surged, impacting households that rely on gas for cooking.

Here is the full breakdown of the new NPA price floors, the reasons behind the cuts, and how this affects the Ghanaian economy.

The New Prices: Petrol vs. Diesel

According to the NPA’s bi-monthly review for the window of May 1 to May 15, 2026, the following are the new minimum ex-pump price floors :

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· Petrol (Super): GH¢13.25 per litre (↓ decrease of 2 pesewas)

· Diesel (Gas Oil): GH¢14.30 per litre (↓ decrease of GH¢1.80)

· LPG: GH¢13.02 per kilogramme (↑ increase of GH¢2.23)

Why Diesel Saw a Sharp Drop

The most significant news for the transport sector is the drastic reduction in diesel prices. Diesel has dropped by GH¢1.80 per litre compared to the mid-April window. This represents a total decline of GH¢2.80 from the early April peak of GH¢17.10 .

Industry analysts attribute this sharp decline to two primary factors:

1. Global Market Stability: International crude benchmarks have cooled slightly after Brent crude spiked above $100 per barrel due to Middle East tensions.

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2. Government Intervention: The government is actively absorbing a portion of the price build-up. Data indicates the state is subsidizing diesel by approximately GH¢2.00 per litre and petrol by 36 pesewas as part of a temporary cushioning measure .

The LPG Problem: Why Cooking Gas is Up

While drivers may celebrate, households face a different reality. LPG prices have skyrocketed by GH¢2.23 per kilogramme, moving from GH¢10.79 to GH¢13.02 .

The Chamber of Oil Marketing Companies (COMAC) explains that this sharp increase is due to the delayed effect of current tender arrangements. Unlike petrol and diesel which react instantly to global price dips, LPG pricing in Ghana has been subject to a lag effect from previous, more expensive, import cycles .

Government Intervention: The GH¢200 Million Question

To achieve these reductions despite a depreciating Cedi (which fell 0.65% to GH¢11.21 against the USD), the government has had to sacrifice significant revenue.

The Ministry of Energy has confirmed that the state is losing approximately GH¢200 million in potential revenue during this window to keep prices down. A spokesperson noted that while this is a "necessary sacrifice," it is a temporary measure .

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Civil Society Organizations (CSOs), including Imani Africa and COPEC, have urged the government to make these cuts more structural. Instead of temporary patches, they propose a permanent rationalization of taxes and levies to keep fuel affordable long-term while establishing a Strategic Reserve Fund .

Public Reaction: Relief with Reservations

Reactions on the ground are mixed. Drivers in transport hubs like Koforidua have welcomed the intervention. George Bekoe of the GPRTU noted that the reduction helps stabilize transport fares without causing conflict between drivers and passengers .

However, some consumers argue the relief is "cosmetic." Critics like Enoch Afoakwah argue that as an oil-producing nation, Ghana should not be experiencing such high prices at the pump, and that the government must address inefficiencies at the Tema Oil Refinery (TOR) rather than relying on temporary subsidies .

Summary Table: Price Comparison

Product Mid-April Price (Peak) New Price (May 1) Change

Petrol GH¢13.27 GH¢13.25 - 2 pesewas

Diesel GH¢16.10 GH¢14.30 - GH¢1.80

LPG GH¢10.79 GH¢13.02 + GH¢2.23

What to Expect Next

The NPA has mandated that all Oil Marketing Companies (OMCs) adhere to these price floors, though actual pump prices may vary slightly depending on the dealer's margins .

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NPA announces fuel price reductions for May

This pricing window is valid only for the first half of May (through May 15). The review in mid-May will determine if the reduced prices hold or if the government scales back its subsidy to save revenue.

Stay tuned to our blog for updates on the May 15 pricing window.

Disclaimer: Prices are ex-pump floors as announced by the NPA. Actual retail prices may vary by location and OMC.