Consumers of petroleum products are expected to experience yet another price hike effective Friday, May 3, 2024.

This is despite the National Petroleum Authority (NPA) announcing a new minimum pricing for some petroleum products from May 1 to May 15, 2024.

In a circular issued to Oil Marketing Companies (OMCs) and Bulk Oil Distribution Companies, the price for petrol is selling at GH¢13.63 per litre, a slight increase from the previous GH¢13.02.

This adjustment forms part of the NPA's strategy to prevent undercutting in the market and ensure the stability of the petroleum industry.

However, state-owned GOIL has announced an increase in petroleum products effective May 3, 2024, which is in line with the first pricing window for the period.

The OMC is now selling petrol at GH¢15.22 per litre while diesel is going for GH¢14.65 per litre across its pumps.

It is expected that other OMCs in the country will also adjust their prices to align with the pricing window for May.

NEW FUEL PRICES EFFECTIVE FRIDAY 3RD MAY, 2024 AT 7AM PROMPT.
SUPER XP 95 - GHC 15.22
DIESEL XP - GHC 14.65 pic.twitter.com/MEs2QRR8EP

— GOIL (@GOIL_Official) May 3, 2024