The Ghana Private Road Transport Union (GPRTU) has informed the public that transport fares will be reduced if fuel prices drop to about 12 per litre.
Speaking on Joy News’ PM Express on Tuesday, March 18, GPRTU’s Deputy Public Relations Officer, Samuel Amoah, discussed the variables impacting fare modifications and why a reduction has yet to be enacted despite the recent drop in fuel costs.
“Before December, we were already considering increasing transport fares due to the high cost of spare parts, rising fuel prices, expensive lubricants, insurance, and DVLA taxes,” Amoah told the newspaper.
“But we decided to hold on because we had been promised that things would get better.“
While conceding that gasoline prices had slightly fallen, he emphasised that the decrease is not yet big enough to merit a fare reduction.
“Yes, we have seen the fuel price coming down a little bit, but it has not gotten to the level where it will call for a reduction in transport fares,” according to him.
Mr Amoah noted that fare modifications are based on more than just fuel prices.
“We generally have a 10% threshold that we monitor. We examine where the fuel price was and where it is now, but we also consider other factors such as spare parts, lubricants, and different taxes,” he explained.
“When deciding to either increase or reduce fares, our team goes to the market to assess these factors before making recommendations.“
He remembered the last fare increase and the fuel price at the time.
“The last time we hiked transport costs, petrol prices were approximately 12 per litre, if I’m not mistaken. “Now, diesel is around ¢15.49, and petrol is around ¢14.99,” he stated.
“We hope that fuel prices fall to at least 12 per litre. If this occurs, we will reassess the issue.”
However, he added that even if fuel prices fall, spare component costs will remain a serious issue.
“Looking at where spare parts prices are now, it will be difficult for us to reduce transport fares immediately,” he pointed out.
His views provided insight on the difficulties of fare adjustments and the many economic pressures that transport operators face.
While GPRTU remains ready to decreasing tickets, it insists on gasoline prices reaching the ¢12 level before making a significant decision.
