May 30, 2024

Commercial Transport Operators have been urged to comply with the new transportation fares issued by Ghana Private Road Transport Union (GPRTU) and Ghana Road Transport Coordinating Council.

The Road Transport Operators on Monday, May 15 announced 10% reduction of transport fares effective Wednesday, May 17, 2023.

The decision comes after a reduction in the prices of petroleum products from today, Tuesday, May 16TH, 2023.

In a statement jointly signed by the General Secretary of the Ghana Road Transport Coordinating Council, Emmanuel Ohene Yeboah, and Godfred Adulbire, General Secretary of the Ghana Private Road Transport Union (GPRTU), the operators said the decision is in line with “Administrative Arrangement on Public Transport Fares, to accommodate for reductions in prices of petroleum products observed over the period.”

“We further request all operators, commuters and the general public to kindly cooperate for the successful implementation of the new fares.” the statement said.

Prior to this reduction, transport fares had seen several increases in line with the rising cost of fuel at the time.

Prices of petrol, diesel and Liquefied Petroleum Gas (LPG) are expected to fall marginally again at the pumps from Tuesday, May 16,2023, for the next 14 days.

According to the Institute for Energy Security (IES), this is on the back of a reduction in prices of finished products on the world market and the stability of the cedi.

Therefore diesel, petrol and LPG are expected to sell at ¢12.30, ¢12.15 and ¢12.12 respectively.

“The Institute for Energy Security (IES) 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 “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”.