The National Petroleum Authority (NPA) has announced that a planned increase in transport fares by the Ghana Private Road Transport Union (GPRTU) has been suspended following engagements between the government and transport operators. The discussions come amid rising fuel costs, which have increased operating expenses for transport operators following recent adjustments in petroleum prices. The NPA has raised the price floor for petrol and diesel as international market pressures continue to affect fuel prices.
The increases have sparked concerns over their possible impact on transport fares and inflation. Speaking on Joy News’ PM Express Business Edition on Thursday, NPA Chief Executive Godwin Edudzi Tamakloe said he was “greatly worried” about the potential consequences of higher transport fares.
Mr Tamakloe said he, together with the Transport Minister, had been engaging transport operators to address their concerns and prevent further pressure on commuters. He explained that transport operators face several major expenses, including vehicle maintenance, spare parts, fuel, wages and insurance.
According to him, while most of these costs have remained relatively stable, fuel prices have emerged as the main source of recent financial pressure on operators. “For transport business, there are three essential things that you always want to look at: the cost of maintaining the freight, the cost of spare parts. Not only that, the cost of running the business, that’s fuel cost,” he said.
Mr Tamakloe noted that wages, insurance and other operating expenses had largely remained unchanged, leaving the recent increase in fuel prices as the most significant factor affecting transport operators. “What has become impactful now has to do with the fuel price,” he said. According to him, government interventions have also helped reduce some of the cost pressures faced by transport operators.
Mr Tamakloe said the stability of the cedi had helped absorb some of the potential cost pressures arising from foreign exchange, describing it as one of the government’s interventions to cushion consumers. He added that the government was also periodically taking measures to mitigate the impact of rising fuel prices.
According to Mr Tamakloe, these interventions formed part of the government’s discussions with transport operators. He said the engagements had focused on encouraging operators to share some of the cost burden rather than immediately passing the full impact on to passengers. He explained that the discussions had so far helped prevent an immediate increase in transport fares, noting that plans to raise fares had effectively been put on hold.
Mr Tamakloe commended the leadership of the Ghana Private Road Transport Union (GPRTU), the Progressive Road Transport Owners Association (PROTOA) and other transport groups for what he described as constructive engagements with the government. He said the cooperation from the various transport associations had contributed significantly to efforts to manage the situation.
However, Mr Tamakloe acknowledged that some transport operators had proceeded to increase their fares despite the ongoing discussions. He noted that a few operators had disregarded the engagements and arbitrarily raised their charges.
