Trotro Drivers Eye Fare Increases as Fuel Prices Rise Above GH¢12 Per Litre amid Iran War
- The Ghana Private Road Transport Union has signalled potential fare increases as fuel prices increase
- Fuel prices going above GH¢12 per litre are expected to pressure transport operators' operational costs
- The indicative price floor for petrol has risen to GH¢11.57 per litre, up from GH¢10.46 in the previous window
The Ghana Private Road Transport Union (GPRTU) is planning to increase its fares following the rise in fuel prices.
Fuel prices have risen above GH¢12 per litre at some Oil Marketing Companies.
Source: Getty Images
The price floor for petrol has risen to GH¢11.57 per litre, up from GH¢10.46 recorded between March 1 and 15.
Diesel has also experienced a sharp increase, moving from GH¢11.42 to GH¢14.35 per litre, while liquefied petroleum gas has climbed from GH¢9.38 to GH¢10.67 per kilogramme.
Transport operators say such increases significantly affect their operational costs, particularly as other vehicle-related expenses remain high.
The Industrial Relations Officer of the GPRTU, Abass Imoro, noted that transport operators are already under financial pressure due to rising costs associated with maintaining their vehicles.
“We work for profit, and for some time now, fares have remained unchanged. Some drivers tried to increase prices, but we intervened to stop them. That shows they are looking for adjustments."
A report by the Chamber of Oil Marketing Companies revealed that the increase was influenced by the recent surge in global crude prices because of the war between Iran, the US and Israel.
The price of Brent crude oil spiked over $100 as Iranian strikes hit ships in the region's waters.
Effect of Iran war on fuel supply
US President Donald Trump, who has previously said that the war could last for a month or longer, sought to downplay growing fears that it could take even longer.
AP reported that Trump also assured threatened intensified action on Iran if the country made any “attempt to stop the globe’s oil supply.”
Iran has effectively stopped tankers from using the Strait of Hormuz, the shipping lane between the Persian Gulf and the Gulf of Oman.
Attacks on merchant ships near the strait have killed at least seven sailors, according to the International Maritime Organisation.
Iran targets commercial ships and Dubai Airport
Earlier, YEN.com.gh reported that Iran had targeted commercial ships and Dubai Airport, escalating regional tensions amid global energy concerns.
Iran threatens financial institutions in the Middle East, endangering Dubai's economic stability as attacks escalate.
Airstrikes continue in Tehran and Lebanon as the UN discusses measures against Iran's aggression towards Arab nations.
Source: YEN.com.gh
