OMCs Commence Fuel Price Increases: GOIL Sells Petrol at GH¢10.24 as Diesel Rises to GH¢12.83

Published Date: February 16, 2026

Source: Analysis in accordance with reporting via JoyBusiness/MyJoyOnline (Life Pulse Daily)

Introduction

On February 16, 2026, a vital shift passed off at gas stations throughout Ghana as primary Oil Marketing Companies (OMCs) carried out the primary spherical of petroleum product worth will increase for the 12 months. Leading the trade, GOIL, a distinguished nationwide OMC, adjusted its costs, promoting petrol at GH¢10.24 consistent with litre and diesel at GH¢12.83 consistent with litre. This transfer, reflected via enterprise development chief Star Oil, alerts a brand new pricing technology influenced via a weakening Ghanaian cedi and emerging multinational oil prices. This article supplies an in depth, Search engine optimization-optimized, and pedagogical breakdown of this gas worth adjustment. We will discover the authentic causes, the regulatory framework together with the National Petroleum Authority’s (NPA) worth ground, the industrial components at play, and be offering sensible, actionable recommendation for Ghanaian customers and companies navigating this new price surroundings. Understanding those dynamics is the most important for private budgeting, venture making plans, and financial literacy in Ghana.

Key Points at a Glance

This segment summarizes the crucial information of the February 16, 2026, gas worth adjustment for fast reference.

Effective Date: Price will increase commenced at the morning of February 16, 2026.
Leading OMCS: GOIL and Star Oil have publicly adjusted their pump costs.
New GOIL Prices: Petrol: GH¢10.24/litre (from GH¢9.99); Diesel: GH¢12.83/litre (from GH¢11.90).
New Star Oil Prices: Petrol: GH¢10.24/litre (from GH¢9.99); Diesel: Slightly above the NPA ground.
NPA Price Floors: The minimal allowable worth is GH¢10.24 for petrol and GH¢11.34 for diesel.
Primary Drivers: 1) ~4% depreciation of the Ghanaian cedi in opposition to the United States greenback in early 2026. 2) Over 5% surge in cross-border crude oil costs to ~$70/barrel. 3) Corresponding rises in completed product costs (petrol +4.17%, diesel/gasoil +5.57%).
Broader Impact: Other primary OMCs are anticipated to observe go well with with an identical changes all the way through the day.
Regulatory Context: Increases align with the NPA’s periodic overview mechanism and its introduced worth flooring to stop damaging worth wars.

Background: Ghana’s Fuel Pricing Mechanism

To perceive the importance of this worth hike, one should first know the way gas costs are decided in Ghana. The gadget is a mix of multinational enterprise development forces and native regulatory oversight.

The Role of the National Petroleum Authority (NPA)

The NPA is the statutory regulator liable for the downstream petroleum business model. Its core purposes come with atmosphere the worth ground and worth ceiling for petroleum merchandise. The worth ground is the minimal worth at which OMCs are allowed to promote, calculated in accordance with a system that accounts for the multinational price of crude oil, subtle merchandise, the trade fee (GHS/USD), taxes, and a margin for the OMCs and vendors. The said objective of the associated fee ground is to make sure OMCs can duvet their import prices and stay financially viable, thereby fighting enterprise development shortages. The ceiling protects customers from over the top profiteering. The February 2026 adjustment displays the NPA’s newest periodic overview in accordance with those variables.

Oil Marketing Companies (OMCs) and the Supply Chain

OMCs are the entities that import, retailer, distribute, and promote petroleum merchandise at retail stations. They perform inside the hall set via the NPA’s ground and ceiling. Their profitability is determined by operational potency and the amount of gross sales. The announcement via GOIL and Star Oil signifies that the brand new NPA ground has been set at a degree that necessitates a right away worth building up around the business model. GOIL’s be aware that its costs mirror “discounted costs introduced at 200 provider stations national” is a commonplace management business model, implying that costs at its different stations could also be at the usual, non-discounted fee, which might be at or very close to the NPA ground.

The Chamber of Oil Marketing Companies (COMAC)

COMAC is the advocacy workforce representing the pursuits of OMCs. It serves as a essential channel for speaking industry-wide considerations and information to regulators and the general public. In this example, COMAC has been the main supply for explaining the macroeconomic components—cedi depreciation and multinational oil worth surges—that compelled the NPA to regulate its pricing benchmarks upward.

Analysis: Unpacking the Drivers of the Price Hike

The February 2026 building up isn’t an remoted tournament however an instantaneous end result of 2 primary, interconnected financial pressures: foreign currencies dynamics and cross-border commodity markets.

1. The Depreciating Ghanaian Cedi

The cedi’s efficiency in opposition to the United States greenback is the only most important native issue affecting gas costs. Ghana imports just about all its petroleum necessities, so prices are denominated in USD.

Cause of Depreciation: According to the Bank of Ghana and enterprise development analysts, the cedi got here beneath sustained power from January 1, 2026. Key drivers incorporated greater company call for for bucks as companies restocked for the brand new 12 months and critical foreign currencies outflows for dividend bills via global companies.
Magnitude: Official Bank of Ghana information signifies a depreciation of roughly 4% in January 2026. Some business banks’ information suggests a rather upper determine of four.16%. Even this reputedly small proportion has an enormous have an effect on on landed gas prices, because it immediately will increase the cedi-equivalent worth of each dollar-denominated barrel of oil and litre of subtle product.

2. Surging International Crude and Refined Product Prices

Global oil markets have became bullish in early 2026, exacerbating the native foreign money impact.

Crude Oil (Brent): Prices have surged via greater than 5%, buying and selling close to $70 consistent with barrel. This benchmark worth influences the price of all derived merchandise.
Finished Products: The worth will increase aren’t uniform. Data displays:
- Petrol (Gasoline): +4.17%
- Diesel / Gas Oil: +5.57%
- LPG (Liquefied Petroleum Gas): +6.18%
Interpretation: The upper building up for diesel and LPG in comparison to petrol suggests particular provide constraints or more potent call for in the ones specific multinational markets. Diesel’s higher hike explains why, even with a commonplace worth ground, some OMCs’ diesel costs are “rather above” the minimal—the fee base will have driven some corporations past the ground even earlier than including their margin.

The Combined Effect and Regulatory Response

The NPA’s system routinely combines those two inputs: the USD price of goods (emerging) and the GHS/USD trade fee (weakening). The result’s a mathematically upper cedi price consistent with litre, which the regulator has translated into a brand new, upper worth ground and ceiling. COMAC’s observation about receiving “assurances from the Bank of Ghana” highlights the supervision between financial and sectoral regulators. The central financial institution’s center of attention on “worth balance” refers to its broader inflation-targeting mandate, of which gas costs are a significant part because of their pervasive have an effect on on transportation and items prices.

Practical Advice for Consumers and Businesses

Facing a sustained duration of excessive gas prices calls for proactive changes. Here is actionable recommendation for various stakeholders.

For Individual Motorists and Households

Re-evaluate Commuting: Immediately assess if public shipping (trotro, bus, teach) is a viable and more cost effective selection for day by day commutes. Calculate the per thirty days financial savings.
Practice Fuel-Efficient Driving: Adopt ways like delicate acceleration, keeping up stable speeds, heading off over the top idling, and making sure right kind tire inflation. These can support gas potency via 10-20%.
Vehicle Maintenance: Ensure common engine servicing, blank air filters, and proper oil grade. A poorly tuned engine consumes considerably extra gas.
Plan Trips: Combine errands right into a unmarried commute. Use navigation apps to keep away from congested routes and needless mileage.
Consider Carpooling: Organize with colleagues, neighbours, or faculty folks for shared rides, splitting the gas price.
Monitor Price Variations: While the NPA ground units a minimal, pageant amongst OMCs on the higher finish of the band can nonetheless result in slight permutations. Use apps or word-of-mouth to seek out stations providing the most efficient worth on your house.

For Businesses and Fleet Operators

Logistics Optimization: Invest in direction optimization device. Review supply schedules for backhaul chances (heading off empty go back journeys).
Fleet Evaluation: For high-mileage cars, behavior a complete price of possession research. Switching to extra fuel-efficient fashions, hybrids, or electrical cars (the place charging infrastructure lets in) would possibly be offering long-term financial savings regardless of upper prematurely prices.
Fuel Management: Implement strict gas tracking methods (telematics, gas playing cards with reporting) to trace intake, hit upon robbery, and advertise effective riding behavior amongst staff.
Cost Pass-Through Strategy: For companies the place gas is an instantaneous price (shipping, logistics), overview contracts and buyer agreements to incorporate gas adjustment clauses the place imaginable.
Explore Alternative Energy: For desk bound apparatus (turbines), believe solar energy with battery garage to cut back diesel dependency for backup energy.

Long-Term Strategic Considerations

These worth hikes underscore the vulnerability of Ghana’s market system to exterior foreign exchange and commodity shocks. Long-term mitigation methods at a countrywide degree come with:

Diversifying Energy Mix: Accelerating investments in renewable power (sun, wind, hydro) to cut back the shipping business model’s absolute dependence on imported petroleum.
Promoting Public Transport: Major executive returns in effective, dependable, and reasonably priced mass transit methods (BRT, metro, rail) to cut back the selection of personal cars at the street.
Local Refining: The eventual entrepreneur of projects just like the Tema Oil Refinery business leader or new personal refineries may cut back import dependency and the foreign exchange burden, although this can be a long-term undertaking.

Frequently Asked Questions (FAQ)

Q1: Why did gas costs building up in particular on February 16, 2026?

A: The NPA periodically evaluations gas costs in accordance with a prescribed system. The overview for the primary part of February 2026 used to be caused via the numerous and concurrent depreciation of the Ghanaian cedi (approx. 4%) and the upward thrust in multinational crude oil and subtle product costs (over 5% for crude, as much as 6.18% for LPG) right through January and early February 2026. The new worth ground and ceiling turned into efficient at the introduced date.

Q2: What precisely is the NPA “worth ground,” and is it new?

A: The worth ground is the minimal prison worth at which OMCs can promote petroleum merchandise. It is calculated to hide the estimated landed price of imports, taxes, and a statutory margin. It isn’t new; this can be a same old regulatory instrument. What is new is the degree of the ground, which has been raised from earlier sessions to mirror the upper import prices. For February 2026, the ground is GH¢10.24 for petrol and GH¢11.34 for diesel. No OMC is authorized to promote beneath those costs.

Q3: Will all OMCs rate precisely the similar worth?

A: No. The NPA units a ground and a ceiling. OMCs can set their retail costs anyplace between those two limits. Therefore, you’re going to see slight permutations. GOIL’s marketed worth of GH¢10.24 for petrol is precisely on the ground. Other OMCs would possibly rate GH¢10.30 or GH¢10.49, as an example, relying on their logo positioning, location, and operational prices. The key takeaway is that no respected OMC will promote beneath GH¢10.24 for petrol or GH¢11.34 for diesel.

This fall: How incessantly do gas costs trade in Ghana?

A: There is not any mounted weekly or per thirty days agenda. The NPA evaluations the pricing system each two weeks (bi-weekly). However, changes are most effective made if the overview determines that the present worth window (ground and ceiling) is now not aligned with the underlying price components (trade fee, multinational costs). If the criteria are solid, costs would possibly stay unchanged for a number of overview sessions. The February 16 trade used to be vital because of the pointy motion in the ones underlying components.

Q5: Are those worth will increase everlasting, or will they move down?

A: They aren’t everlasting; they’re reflective of present financial stipulations. Prices will modify once more within the subsequent NPA overview duration (most probably past due February or early March 2026). If the cedi stabilizes or appreciates in opposition to the greenback, and if