Nigeria’s petrol market has entered another period of uncertainty. This time, the problem is not simply whether the country has enough refining capacity.The deeper issue is that Nigeria may now refine more fuel locally, yet the price Nigerians pay remains tied to the dollar.Some petroleum marketers have suspended fresh petrol purchases after depot prices in...
Category: Fuel Price
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Fuel Prices Projected to Rise as Geopolitical Tensions Push Up Global Oil Costs – COMAC
The Chamber of Oil Marketing Companies (COMAC) has projected an increase in ex-pump prices of petroleum products for the pricing window beginning July 16, 2026, citing renewed geopolitical tensions and a slight depreciation of the Ghana cedi against major trading currencies. According to COMAC, petrol prices are expected to increase by between 3.79% and 5.31%,...
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NPA increases price floor from July 16; Petrol up to GH¢ 13.28 and diesel pegged at GH¢ 14.35
The National Petroleum Authority (NPA) has increased the price floor for various petroleum products, effective July 16, 2026. Based on a notice sent to industry players, the price for petrol has increased from GHC 12.79 to GHC 13.28 per litre. Diesel has also been increased from GHC 13.54 to GHC 14.35 per litre. The development...
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Dangote Refinery Begins Pricing Local Fuel Sales In Dollars
Nigeria’s downstream petroleum sector is bracing for renewed foreign exchange (FX) pressure after Dangote Petroleum Refinery scrapped its naira-denominated pricing model for petrol, diesel and aviation fuel, replacing it with a dollar-based framework that ties domestic fuel prices directly to exchange rate movements. The change, announced in a notice to marketers and customers dated July...
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COMAC Projects Further Drop in Fuel Prices as Global Oil Market Slump Pushes Down Costs
The Chamber of Oil Marketing Companies (COMAC) is projecting a further reduction in the prices of petrol, diesel and Liquefied Petroleum Gas (LPG) at the pumps for the first pricing window of July 2026. According to COMAC’s latest pricing outlook, petrol prices are expected to decline by between 1.94 per cent and 9.31 per cent,...
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Fuel Price Competition Raises Sustainability Concerns
Fuel Pumps Ghana’s highly competitive fuel retail market, long regarded as one of the success stories of the country’s downstream petroleum reforms, is coming under renewed scrutiny as industry leaders warn that aggressive price competition could threaten the long-term stability of the sector. The debate gained fresh attention at the Ghana Biennial International Summit and...
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Fuel Could Be Selling at GH¢9 Per Litre Without Global Conflicts, Says CBOD
Dr Patrick Ofori, Chief Executive of the Chamber of Bulk Oil Distributors (CBOD), stated that global supply chain disruptions caused by international conflicts have kept fuel prices high in Ghana. Speaking on Citi Eyewitness News on Tuesday, June 16, 2026, Dr Ofori noted that the US-Israel conflict heavily contributed to fuel price increases over the...
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Government Scraps Diesel Fuel Price Relief
Government has officially scrapped the remaining diesel fuel price relief of GH¢1.07 per litre ahead of the second pricing window of June, which takes effect on June 16.The decision brings to an end all temporary fuel price interventions introduced to cushion consumers and businesses from rising petroleum prices triggered by tensions in the Middle East....
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Petrol prices set for sharpest drop in months amid falling global oil prices
The latest pricing outlook released by the Chamber of Oil Marketing Companies (COMAC) says petrol, diesel and LPG will all record some reductions during the second pricing window of June.According to the report motorists are to enjoy significant relief at the pumps from June 16, as fuel prices are projected to fall sharply nationwide. Petrol...
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NPA reduces petrol, diesel and LPG price floors for second June pricing window.
The price floor for petrol, diesel and liquefied petroleum gas (LPG) has been reduced for the second pricing window of June, according to the National Petroleum Authority (NPA), citing favourable international market conditions and shifting market dynamics. The benchmark price floor for diesel has been set at GH¢15.11 per litre, down from GH¢15.49 per litre...