Transport Fares Up 30% By Friday, As Petrol Hits GHC 8 per Litre

Transport fares are going up by 30% by Friday, February 18, 2022, says the Private Commercial Transport Operators who say they have no choice but to increase fares after petrol prices hit GHC 8 per litre this week after the National Petroleum Authority (NPA) has re-introduced the Price Stabilisation and Energy Recovery Levy (PSRL).

The group had been locked in a tough negotiation with the government which wants them to increase transport fares by 10% instead of the proposed 30%. But the group claimed the

Negotiation has collapsed and “ended inconclusively”.

Another round of negotiation is slated for February 18, but the group is not waiting. It has asked its members to hike prices on the same day, they go back to the negotiation table.

“Members are directed to implement the increase from tomorrow, 18th February 2022, without further delay. This has become necessary to save our transport business from collapsing with the frequent upward adjustments in fuel prices,” a statement from the private transport operators read.

In the statement issued today, Thursday, February 17, 2022, the group explained that before the scheduled meeting with the government could take place, fuel prices have already been increased by some 30 pesewas per

litre at the fuel pumps in a shore of bad faith by the Akufo Addo administration whose policy to re-introduce the PSRL has forced Oil Marketing Companies (OMCs) to increase prices.

“Now a litre of fuel at some of the major filling stations are being sold for GHC 7.990 We wish to entreat our valued customers to bear with us as we need to save our business, sustain it and keep providing you with our critical services. A gallon of fuel which use to sell at the pump for GHC 27 cedis, has now jumped to almost GHC 36 cedis per gallon. As the public may be aware,” the transporters lamented.

The Chamber of Petroleum Consumers (COPEC) had laid the blame for the price hikes on the doorsteps of the government, saying the true reason for the increased prices of petroleum products is the taxes built into them.

Indeed, COPEC had predicted that petroleum prices will hit GHC 8 by March 2022. But that prediction materialised earlier.

With Inflation around 13%, the economic hardship facing Ghanaians is expected to worsen with the double whammy hikes in petrol prices and transport fares.

Almost all economic activities in the country depend on a poor transportation infrastructure that is fueled exclusively by petroleum.

Producers who would be forced to pay more in operational expenses are inevitably going to pass on the burden to consumers.