Diesel price drops by GH¢2.00 as NPA announces new fuel prices for August

The National Petroleum Authority (NPA) has announced the official ex-pump price floors for the second pricing window of August, covering 4 to 15 August 2026, with diesel recording a GH¢2.00 per litre reduction following a government intervention aimed at easing the cost of fuel.

Under the revised pricing schedule, the ex-pump price floor for petrol remains unchanged at GH¢14.53 per litre, while diesel has been reduced from GH¢16.97 to GH¢14.97 per litre. The price floor for Liquefied Petroleum Gas (LPG) also remains unchanged at GH¢11.06 per kilogram.

The NPA also set the ex-pump price floors at GH¢16.08 per litre for Marine Gas Oil (MGO) Local and GH¢14.46 per litre for kerosene.

Why diesel prices have been reduced

The GH¢2.00 reduction follows a directive by President John Dramani Mahama to temporarily lower the regulatory margin on diesel for one month, effective 4 August 2026.

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According to a statement signed by the Minister for Government Communications and Presidential Spokesperson, Felix Kwakye Ofosu, the measure was approved by Cabinet to shield consumers from rising fuel costs.

The Presidency said the intervention is intended to cushion consumers, prevent increases in transport fares, contain inflationary pressures and reduce the impact of higher fuel prices on the overall cost of living.

The government added that it will continue monitoring developments in the global energy market and introduce additional policy measures where necessary to protect consumers and support the country's economic recovery.

The latest intervention follows a similar fuel relief package introduced in April 2026, when the government temporarily reduced regulatory margins on diesel and petrol to minimise the impact of higher international oil prices.

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Despite the diesel cut, the NPA maintained the price floors for petrol and LPG, indicating that current market conditions did not justify adjustments to the two products during this pricing window.

What the price floors mean

The NPA's published figures represent minimum ex-pump price floors under the Petroleum Product Pricing Guidelines (PPPG). They are benchmark prices and do not necessarily reflect the final amounts consumers will pay at fuel stations.

Oil Marketing Companies (OMCs) and LPG Marketing Companies (LPGMCs) are permitted to apply their own operating margins, meaning actual pump prices may vary. The published price floors also exclude International Oil Trading Company (IOTC) premiums and Bulk Import, Distribution and Export Company (BIDEC) charges.

What motorists should expect

The revised price floors take effect from 4 to 15 August 2026, after which the NPA will review market conditions for the next pricing window.

The reduction in diesel prices is expected to lower operating costs for commercial transport operators, haulage firms, farmers, manufacturers and other businesses that rely heavily on diesel-powered equipment. Consumers will also be watching to see whether the lower benchmark prices translate into reduced pump prices and ease pressure on transport fares.