- Transport fares are set to increase again by a significant 30% from May 13, according to the Ghana Private Road Transport Union (GPRTU)
- The GPRTU has cited a sharp increase in fuel prices by Oil Marketing Companies (OMCs) in recent times by almost 50%
- The GPRTU has blamed the government for the 30% increment because efforts to get its cooperation has been unsuccessful
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One of Ghana’s influential driver unions says it has been compelled to go ahead with plans to increase transport fares by 30% from next Friday, May 13, 2022.
The Ghana Private Road Transport Union (GPRTU) has said the increase in transport fares is due to the fuel price increases a few months ago.
GPRTU’s Industrial Relations Officer, Abass Imoro, told Citi News that attempts to get the government to cooperate to perhaps reduce the percentage increase in the fares have not been successful.
“We have been forced to make a decision. We were thinking of being sympathetic. We never wanted to take this decision, but the government has not cooperated with us.
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“Fuel prices keep shooting up, we wrote to the Transport Minister about our plans to increase transport fares, but we received no feedback. We are thus going to make a decision that will help us as well. We will announce the new prices by next Friday,” he said.
The GPRTU increased fares by 15% three months ago when fuel prices averaged GH¢6.4 per litre.
A litre of diesel, one of the standard fuel used by most commercial vehicle, is currently selling at GH¢11 at major Oil Marketing Companies (OMCs).
Total Energies' new fuel price list shows diesel selling at GH¢11.30p as at Thursday, May 5, 2022. Petrol is selling at almostGH¢10.75p.
Falling Cedi, Russia-Ukraine War Pushes Fuel Prices Up
In a related story, YEN.com.gh reported that petrol and diesel prices had gone through the roof in Ghana due to the depreciation of the cedi and sanctions on Russia by the US and its allies over its widely condemned incursion on Ukraine.
The fall of the cedi against the US dollar, according to energy think tank, Chamber of Petroleum Consumers Ghana (COPEC-GH) triggered a sharp rise in fuel prices for the next pricing window.
Energy Consultant, Dr Yussif Sulemana, had predicted that the incursion into Ukraine by Russia could push crude prices to record highs as sanctions on Russia trigger scarcity.
Dr Sulemana explained that if the war between Russia and Ukraine persists, global oil prices will go above $120 “because Russia is a force to reckon with.”
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