Fuel could sell for GH¢9.50 without NPA price floor - Star Oil CEO hints

The Chief Executive Officer of Star Oil Ghana, Philip Tieku, has disclosed that his company would have been able to sell petrol at GH¢9.50 per litre during off-peak hours between 10 p.m. and 4 a.m. to support night-time demand.

However, he lamented that this plan is impossible under the National Petroleum Authority’s (NPA) price floor policy, which sets a minimum price below which fuel cannot be sold.

Tieku questioned the logic behind the NPA’s price floor, arguing that it undermines free-market competition in Ghana’s deregulated petroleum sector.

In a Facebook post, he wrote: “Imagine Star Oil pricing petrol at GH¢9.50 per litre after 10 p.m. till 4 a.m. to support the night-time economy when demand is lower… but that will be below the NPA floor price.”

Regulators, however, defend the policy, stating that it is necessary to prevent predatory pricing and protect smaller oil marketing companies (OMCs) from being pushed out of the market.

Fuel prices drop to single digits across various pumps.

Ghana’s downstream petroleum sector was fully deregulated in July 2015, but the price floor mechanism was introduced to maintain competition, supply stability, and consumer welfare.

Meanwhile, fuel prices have begun to drop across the country.

On January 16, 2026, several Oil Marketing Companies reduced pump prices following industry projections of a more than three percent fall in petroleum product costs during the current pricing window.

GOIL, the second-largest player in the sector, cut petrol prices from GH¢10.99 to GH¢9.99 per litre early in the morning.

Market leader Star Oil followed suit, announcing reductions with petrol now selling at GH¢9.97 per litre and diesel at GH¢10.97 per litre.

These reductions form part of Star Oil’s ongoing nationwide price-discount strategy which is aimed at easing the burden on consumers while staying competitive in Ghana’s dynamic fuel market.

SA/EB