By Amoako Kwame
The National Petroleum Authority (NPA) has increased the minimum price floors for petroleum products for the second pricing window of March, effective March 16 to March 31.
Petrol rises to GH¢11.57 per litre, while diesel sees a sharp adjustment to GH¢14.35 per litre, with LPG moving to GH¢10.67 per kilogram to ensure stability in the downstream sector under the Petroleum Products Pricing Guidelines (PPPG).
The Authority, in a memo to Oil Marketing Companies (OMCs}, stated: “As per the Petroleum Products Pricing Guidelines (PPPG), all Oil Marketing Companies (OMCs) and LPG Marketing Companies (LPGMCs) are entreated to comply with the above price floors for the window under consideration.”
NPA clarified that the quoted prices exclude premiums charged by International Oil Trading Companies (IOTCs), as well as the operating margins of Bulk Import, Distribution and Export Companies (BIDECs) and the marketers’ and dealers’ margins of OMCs and LPGMCs.
Established price floors for petrol and diesel have been set at GH¢11.57 and GH¢14.35 per litre, respectively. Consequently, the final retail price at the pump is projected to exceed these base rates significantly once statutory levies, profit margins, and operational overheads are integrated.
Industry analysts are warning of a significant surge in petroleum product prices for the second pricing window of March, with some projections suggesting one of the steepest climbs in recent history.
