Market watchers within Ghana’s energy space are warning of a growing trend of fuel price increases ahead of official pricing windows, a development they say is undermining transparency in the downstream sector and placing undue pressure on consumers.

This follows upward adjustments in pump prices by leading Oil Marketing Companies (OMCs) ahead of the next pricing window, despite the current window not yet closing. The increases come amid broader global pressures, including geopolitical tensions influencing international oil prices.

Speaking to Citi Business News, energy analyst Ben Nsiah warned that some OMCs are already pricing fuel based on projected rates for the upcoming window, rather than the current one.

“Our scan of the market has shown that some OMCs are currently selling their products at next window’s floor price. We think that is very illegal, that is a criminal practice and NPA must sanction OMCs that sell next window’s price in the current window,” he stated.

He explained that each pricing window is guided by specific indicators used to determine fuel prices, stressing that premature adjustments distort the framework. According to him, although the current window is expected to end on March 31, some OMCs have already adjusted prices to reflect those anticipated for April.

Mr. Nsiah further argued that the practice shortchanges consumers, noting that fuel purchased at significantly lower rates such as diesel at about GHS 14.35 per litre and petrol at GHS 11.42 per litre is being sold for as high as GHS 17 per litre, allowing companies to make excessive margins.

“When it happens that way, it means that some of these OMCs are short-changing the consumer because they bought this product at far lower prices,” he added.

He cautioned that allowing such practices to persist could encourage widespread exploitation, particularly during periods of rising global prices, and urged the regulator to act decisively.

“I think that NPA should look for these OMCs and then sanction them so that others will not also emulate and begin to take advantage of petroleum consumers in Ghana,” he stressed.

Market observers say swift intervention by the regulator will be critical to maintaining discipline within the pricing regime and protecting consumers from unjustified price hike