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 in the first June pricing window. This represents a reduction of GH¢0.38 per litre, or about 2.5 per cent.

For petrol, the price floor has been reduced from GH¢15.20 per litre to GH¢13.39 per litre. This is a decline of GH¢1.81 per litre, representing nearly 12 per cent—the largest drop among the three products.

LPG has also recorded a reduction, with the price floor set at GH¢13.23 per kilogram, down from GH¢13.48 per kilogram. This reflects a decrease of GH¢0.25 per kilogram, or about 1.9 per cent.

The NPA explained that the price floors serve as the minimum benchmark prices at which Oil Marketing Companies (OMCs) and LPG Marketing Companies (LPGMCs) are expected to retail petroleum products during the pricing window.

It added that all OMCs and LPGMCs are required to comply with the Petroleum Product Pricing Guidelines (PPPG).

The regulator further clarified that the benchmark prices do not include premiums charged by International Oil Trading Companies (IOTCs), margins of Bulk Import, Distribution and Export Companies (BIDECs), or marketers’ and dealers’ margins. These components are determined separately under the PPPG framework.

The latest adjustments follow a review of government fuel relief measures introduced to cushion consumers and businesses from fuel price increases linked to global tensions.

Under the revised intervention, government has withdrawn the GH¢0.36 per litre support on petrol, while support on diesel has been reduced from GH¢2.00 per litre to GH¢1.07 per litre.

The revised relief measures, which took effect at the start of the second pricing window of May, are expected to remain in place for two pricing windows, subject to further review based on market conditions.

The NPA said the reductions in price floors are expected to ease pressure on transport operators, manufacturers and other fuel-dependent sectors, and help moderate operational costs.