Transport Fares To Be Increased Due To Fuel Increment

Transport operators in the country are contemplating on whether to increase transport fares as a result of the frequent increment in petroleum prices.

Currently, a litre of diesel and petrol are being sold at GHS5.18 pesewas and GHS5.14 pesewas respectively by some Oil Marketing Companies (OMC).

Some major OMCs in the Accra Metropolis such as Shell and Total have increased their prices marginally, while the state own, Ghana Oil Company (Goil), is yet to adjust its prices as at Tuesday morning.

Speaking in an interview, the National Vice Chairman for the Ghana Private Road Transport Union (GPRTU), Robert Sarbah, said “we [Transport operators] are now going to meet and decide whether to increase the fares or not”.

According to him, they(drivers) take into consideration cost of spare parts. They as well use inflation and the dollar rate against the cedi to also determine the transport fares.

Mr. Sarbah further explained that “it is the cedi that is not performing well against the dollar that is why fuel prices have been increased so if something can be done about that, we shall not increase it”.

Meanwhile, energy experts have predicted that fuel prices will go up again due to the cedi depreciation against the major foreign trading currencies, especially, the dollar.

The Chamber of Petroleum Consumers-Ghana (COPEC-GH), in May this year also predicted that fuel prices at various vending points are expected to increase up to about 3 percent in the first pricing window of June.

It said the prices indicative ex-refinery prices for both petrol and diesel are expected to go up by between 2-3 percent for the first window which began on 1 June 2018.