Though the Ghana Cedi is gaining some strength against the US dollar and fuel prices at pumps are expected to decrease in the next pricing window, transport fares on the other hand are undecided.
This is because the Ghana Private Road Transport Union (GPRTU) is yet to assess components that affect fare increment which fuel price is not solely responsible for.
The Institute of Energies and Securities (IES) predicted the decline in prices of fuel which is anticipated to take effect from Friday, December 16, 2022.
According to them, the fall comes from the appreciation of the Ghana Cedi against the US dollar by a margin of 6.60%.
With this positive change, it is hoped that transport operators would in response to the decrement effect change in their fares, but according to the General Secretary of the GPRTU, Godfred Abulbire they do not foresee that happening soon.
Speaking on Eyewitness News on Citi FM monitored by Angelonline.com.gh, he said it would be unfair for the union to immediately reduce fares upon the decrement of fuel prices and the next pricing window when prices appreciate they be directed to increase in line with the change at the pumps.
Therefore, they would evaluate all other components that account for the increment in the fares including the cedi’s performance, and cost of spare parts among others which measure the value cost of commercial cars, before the reduction would be decided and effected.
“We are going to do a very close observation of this particular situation and by the next pricing window when it comes down we don’t need somebody to tell us to decrease the fares,” he assured.
Meanwhile, he has hinted of the GPRTU’s meeting with the Ministry of Transport which will take place later today, Thursday, December 15, 2022, to discuss the way forward on the adjustments to ensure fairness.
