Global fuel markets see mixed price shifts and regulatory changes

Various nations are experiencing shifts in petroleum pricing and regulatory adjustments.

In Ghana, the National Petroleum Authority has lowered price floors for petrol and LPG, though diesel prices have seen an increase. While the benchmark for petrol fell by 4.2%, actual pump prices remain subject to individual marketing company margins.

Kenya’s Energy and Petroleum Regulatory Authority (EPRA) reduced the maximum retail price of diesel by KSh5 per litre, while petrol and kerosene prices remained stable. This follows a significant drop in diesel import costs.

In Pakistan, the Economic Coordination Committee (ECC) approved an increase in the dealers’ margin for petrol and diesel from Rs8.64 to Rs9.98 per litre. This decision, backed by Prime Minister Shehbaz Sharif, led the Pakistan Petroleum Dealers Association to call off a planned nationwide strike.

South Africa is facing projected fuel price increases for September, with diesel expected to see the most significant rise due to global supply pressures and Middle East conflicts. Meanwhile, the strength of the rand has provided some mitigation against rising international costs.