NPA announces new price floor for petroleum products

The National Petroleum Authority (NPA) has set a new price floor for the second pricing window (October 16-31, 2024), establishing GH₵12.73 for petrol and GH₵13.43 for diesel.

This mandate prohibits oil marketing companies from selling below these prices, excluding premiums and operating margins set by international oil traders and local marketers.

The NPA introduced this price floor to prevent price undercutting, which could destabilize the industry.

While the price floor program for Bulk Oil Distribution Companies has been suspended due to industry concerns, it continues for oil marketing companies, despite some criticism of the policy as an anti-free market.