The Ghana Private Road Transport Union (GPRTU) has revealed that it hopes to adjust transportation fares upwards by 20%.
According to the Union, the decision will be finalised after it engages government on its proposal.
The Union argues that the adjustment has become necessary following the significant increase in fuel prices.
Speaking on Accra-based Citi News, the General Secretary of the GPRTU, Godfred Abulbire, said the outcome of the negotiations would determine the increase in transport fares.
“It will remain until our talks with the Ministry are done. Then, we would have to go through the same process of sending a letter, and then go on to the round table discussion; then we would consider how to help cushion our members better,” he said.
In February, transport fares were increased by 15% instead of 30% after several calls.
Since a litre of petrol now sells at ¢10, the GPRTU is asking that they should be allowed to increase fares again to cushion their members in these challenging times.
Fuel prices have gone up 27% since January 1, 2022
A report from IES Research Analysts showed that fuel prices at the pumps have already witnessed a net increase of ¢1.8 per litre (27%) for both petrol and diesel since the start of the year and for five consecutive Pricing-windows.
Referenced to March 2021, the report also revealed that the price of petrol and diesel has surged by roughly ¢3.33 per litre, suggesting a 65% increment.
While petrol cost per litre in Ghana has surged by about 65% between March 2021 and March 2022, Kenya, South Africa, and Egypt have recorded price jumps of approximately 14%, 34%, and 26%, respectively within the same period.
The IES said the differences in prices across the listed countries are due to the interventions of respective governments to the rising international oil prices and the extent to which local currencies are managed against the US dollar.