Transport fares will go up by 19% from this Saturday, October 30, 2022.
The rate was agreed upon at a meeting between transport operators and President Nana Addo Dankwa Akufo-Addo on Tuesday.
Mr Richard Yaw Amankwah, Deputy General Secretary in Charge of Operations, Ghana Private Road Transport Union (GPRTU) said the new fares are necessary to cushion transport operators from recent increase in fuel prices, lubricants, spare parts and taxes.
The transport operators went into the negotiations demanding not less than 40% but ended up agreeing to 19%.
Even before the new fares take effect, Oil Marketing Companies (OMC) on the downstream petroleum market have issued new prices since yesterday.
The new prices come as a shock because new were expected to be implemented on November 1, 2022.
The price of a litre of petrol at GOIL increased from GH₵13.10 to GH₵13.99 while diesel remains at GH₵15.99.
Pacific filling station is selling petrol for GH₵17.54 while diesel sells for GH₵19.44.
Meanwhile, some commercial drivers are already implementing a 20% increment in fares ahead of the GPRTU’s official announcement.
Mr Amankwah said the GPRTU had taken note of the situation, saying: “it is because the new fares is long overdue.”
“We know the mechanisms to put in place to stop that. Once we announce the new rate, the drivers will comply,” he said.
The transport operators also demanded an automatic adjustment in fares anytime fuel prices shot up.
But, Mr Amankwah said the President assured the operators that “fuel prices would be hedged”, to avoid further increment.
