In a bid to ensure stability in Ghana’s downstream sector, the National Petroleum Authority (NPA) has introduced a new price floor for petroleum products, effective from February 16 to 28, 2025. Apexnewsgh reports
This move requires Oil Marketing Companies (OMCs) and Liquefied Petroleum Gas Marketing Companies (LPGMCs) to adhere strictly to the set minimum prices.
The NPA has set the price floor for petrol and diesel at GHȼ12.56 and GHȼ 13.45 per litre, respectively, while LPG has been fixed at GHS 14.26 per kilogram. This directive is aimed at preventing price undercutting among industry players, which could destabilize the market.
It’s worth noting that the newly introduced price floors do not factor in the premiums charged by International Oil Trading Companies (IOTCs), operating margins of Bulk Import, Distribution, and Export Companies (BIDECs), or the marketing and dealer margins of OMCs and LPGMCs.
These cost components will continue to be determined independently by the companies, as stipulated under the country’s price deregulation policy.
The NPA’s enforcement of the price floor is expected to promote fair competition among industry players and safeguard consumer interests. Companies that fail to comply with the set price floor risk facing potential sanctions from the regulator.
Source: Apexnewsgh.com
