Some Oil Marketing Companies have begun adjusting fuel prices at the pumps, with new rates taking effect from March 1, 2026.

Checks by Joy Business show that GOIL is now selling petrol at GH¢10.46 per litre, up from GH¢10.24. Diesel, however, remains unchanged at GH¢12.53 per litre at selected stations.

GOIL indicated that the quoted petrol price reflects discounted rates available at about 200 service stations nationwide, suggesting that prices at other outlets may be slightly higher. The adjustment shows compliance with the price floor announced by the National Petroleum Authority for petrol, while diesel remains above the floor price of GH¢11.42.

Market leader Star Oil has also increased its pump prices. Petrol has moved from GH¢10.24 to GH¢10.46 per litre, while diesel has risen from GH¢11.42 to GH¢11.97 per litre. Although Star Oil adhered to the petrol price floor, its diesel price is above the approved minimum.

Other major OMCs have indicated they may adjust their prices in the coming days, with some choosing to monitor competitor movements before making changes. With strict enforcement around the NPA’s price floor, operators are not permitted to sell petrol below GH¢10.42 and diesel below GH¢11.42.

What is driving the increase

Industry players attribute the latest adjustments to rising crude oil and finished petroleum product prices on the international market over the past two weeks.

According to data from the Chamber of Oil Marketing Companies, petrol prices could rise by as much as 2.89 percent, potentially reaching GH¢12.04 per litre, while diesel may increase by 0.86 percent to around GH¢13.22 per litre.

LPG, however, is projected to decline slightly to GH¢13.87 per kilogramme, marking its first reduction this year.

On the global market, Brent Crude traded at about 78 US dollars per barrel on March 2, 2026, amid tensions in the Middle East. Analysts warn that prices could climb toward 100 US dollars per barrel if instability persists.

The recent appreciation of the cedi has helped cushion what could have been a steeper increase at the pumps, industry watchers say.