- Transport will fall by a whopping 10% from Wednesday, May 17, 2023, according to a statement from road transport operators in Ghana
- The reduced fares will affect shared taxis, intra-city (trotro) transport, intercity transport (long-distance buses), and haulage vehicles
- The statement dated May 15, 2023, explained that the reduction has been informed by a fall in the prices of petroleum products in the last couple of weeks
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Two heavyweights in the public transport service delivery in Ghana, the Ghana Private Road Transport Union (GPRTU) and the Ghana Road Transport Coordinating Council have announced a 10% reduction in fares on all routes from Wednesday, May 17, 2023.
The transport operators explained in a statement dated May 15, 2023, that the downward review in fares has been informed by a constant reduction in petroleum prices over some time now.
"We kindly request all operators, commuters, and the general public to cooperate fully to ensure the successful implementation of the revised fares," the statement appealed to its members.
All categories of public transport affected by price reduction
The statement from GPRTU and Ghana Road Transport Coordinating Council said new fares apply to shared taxis, intra-city (trotro), intercity (long-distance buses), and haulage vehicles.
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The statement signed by Emmanuel Ohene Yeboah, General Secretary of the Ghana Road Transport Coordinating Council, and Godfred Adulbire, General Secretary of the GPRTU came with a table of old transport costs and advice on how much should be charged under the new pricing regime.
Petroleum prices to remain stable up to June 16
Meanwhile, an expert in the downstream market, Duncan Amoah, has said petroleum prices the price of petrol and diesel on the international market look favourable for consumers in Ghana and elsewhere in the world.
The executive director of the Chamber of Petroleum Consumers Ghana (COPEC-GH) told YEN.com.gh on Tuesday, May 16 that the prices of the commodities will remain stable in Ghana at least until June 16, 2023.
"The international benchmark figures continue to be favourable at this time... it's likely we'd see some further reductions in the first window of June [June 1 to 16] but beyond that we have no idea," Amoah told YEN.com.gh
The first pricing window for March (March 1 to 16, 2023) saw fuel prices reducing by some 3%, according to COPEC GH's Duncan Amoah.
Also, a petroleum think tank has said the price of petroleum products will fall by between 3% and 10% from Tuesday, 16 March 2023.
The Institute for Energy Security (IES) projected that the prices of petrol, diesel and Liquefied Petroleum Gas (LPG) will see a reduction.
GPRTU says it will only reduce fares if fuel price gets to GH¢10 per litre
Meanwhile, YEN.com.gh reported in a separate story that the Ghana Private Road and Transport Union said last year that it will reduce fares when fuel prices fall.
The Public Relations Officer of the GPRTU said in December 2022 that they will only reduce fares if fuel gets to GH¢10 per litre.
The comment by the GPRTU at the time came on the back of agitations by a section of the populace who wanted fares slashed after fuel prices went down for the second time in December.
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