Commuters in Ghana are to enjoy a 10 per cent reduction in transport fares.
This was announced in a statement issued on Monday, May 15, 2023, by the Road Transport Operators.
The press release was signed by the General Secretary of the Ghana Private Road Transport Union (GPRTU), Godfred Abulbire, and the General Sectary of the Ghana Road Transport Coordinating Council (GPTCC).
In the terse statement, the Road Transport Operators announced, “In line with the Administrative Arrangement on Public Transport Fares, the Road Transport Operators have reduced public transport fares by 10 per cent.”
This, according to the group was occasioned by “the reductions in the price of petroleum products observed over the period.”
It said further that passengers who use “shared taxis, intra-city (tro-tro), intercity (long distance) and haulage” will experience the 10 percent relief on fares which “take effect from Wednesday, May 17, 2023.”
The Road Transport Operators requested “all Commercial Transport Operators to comply with the new fares and post same at their loading terminals.”
The group urged “all Operators, Commuters and the General Public to kindly cooperate for the successful implementation of the new fares.”
“We take this opportunity to assure all Transport Operators and the General Public that we will continue to work in their interest,” the statement concluded.
Meanwhile, fuel prices are expected to go down this week.
Predictions are that diesel and petrol will likely be sold for GHS12.30 and GHS12.15 per litre respectively at the pumps.
According to the Institute for Energy Security (IES), this is due to a reduction in prices of finished products on the world market and the stability of the cedi.
The IES in a statement said “monitoring of prices over the past two weeks on the Global Standard & Poor (S&P) Platts platform indicate the prices of gasoline [petrol], gasoil [diesel], and Liquefied Petroleum Gas (LPG) decreased by 8.40%, 9.98%, and 13.43% respectively.
“The Ghana cedi also gained 0.17% against the US greenback currency.”
It added that: “Following the drop in prices of petroleum products on the international market, coupled with the strong performance of the Ghana cedi, domestic prices for all petroleum products are projected to fall.
“Gasoil, Gasoline and LPG are expected to sell at ¢12.30, ¢12.15 and ¢12.12 respectively.”