GPRTU to revisit plan to increase transport fares despite GhP15 reduction in fuel prices

Spokesperson of the Ghana Private Road Transport Union (GPRTU), Abass Ibrahim, has said the union will go back to their plan to review transport fares upwards irrespective of the 15 pesewas reduction in fuel prices by the government.

He said on the Sunrise show on 3FM with Alfred Ocansey on Friday March 25 that the reduction “is woefully inadequate.”

“15 pesewas is woefully inadequate so we have to revisit our upward adjustment in lorry fares,” he stressed.

Transport fares: Spokesperson of GPRTU, Abass Ibrahim hints on upward adjustment in transport fares regardless of the 15 pesewas reduction in the petroleum price buildup by the government. He says the reduction is woefully inadequate. #3FMSunrise pic.twitter.com/88x8VDcXGe
— Urban Lifestyle Radio📻 (@3fm927) March 27, 2022

Announcing the measures introduced by the government to deal with the economic challenges facing the country, on Thursday March 24, the Finance Minister Ken Ofori-Atta said “Unlike in other countries where the hike in crude oil prices and exchange rate volatility are leading to shortages in supply of petroleum products, government is implementing measures to guarantee constant supply of petroleum products.

“To mitigate the impact of the rising price of petroleum products at the pump, for the next three months, government has decided to reduce margins in the petroleum price build-up by a total of 15 pesewas per litre with effect from 1st April.

“The details are as follows: BOST margin reduced by 2 pesewas per litre; Unified Petroleum Pricing Fund (UPPF) margin reduced by 9 pesewas per litre; Fuel Marking Margin (FMM) reduced by 1 pesewa per litre; Primary Distribution Margin (PDM) reduced by 3 pesewas per litre.

He added “these reductions in margins are expected to reduce prices of petrol by 1.6% and diesel by 1.4%. We anticipate that the measures taken to strengthen the currency will help further stabilize the prices at the pump.”