The Road Transport Operators has announced a 15.3% reduction in transport fares from December 19, 2022.

According to them, the decision follows the recent reductions in the price of petroleum products.

In a statement sighted by GhanaWeb Business on December 16, 2022, it said “with the recent reductions in the price of petroleum products, it became necessary to engage stakeholders to give consideration to a review of the fares in line with the Administrative Instrument. Consequently, a series of negotiation meetings were held with stakeholders to agree on an acceptable level of fare reduction commensurate with the current fuel prices.”

The group added that the fares cover the following types of road transport operations:

1. Shared taxis
2. Intra-city (Trotro)
3. Intercity (Long distance)
4. Haulage

The operators urged commercial transport operators to comply with the new fares and post same at their loading terminals.

Also, the Ministry of Transport earlier said commuters should expect a reduction by December 19.

Checks by GhanaWeb Business to some Oil Marketing Companies on Friday showed that the price of petrol is selling at GH¢13.40 pesewas while diesel is going for GH¢15.85 pesewas.

It is however expected that the prices of petroleum products will continue to drop further on the back of a strengthened performance of the cedi against the US dollar in the past one and a half weeks.

Deputy Minister of Transport, Hassan Tampuli, on his part, said there are ongoing engagements with transport operators to reduce the fares following the recent appreciation of the local currency and ease the burden on commuters.

“We understand that the fares will definitely come down. It is the margin of reduction that we are still negotiating. We are waiting for the next pricing window on Friday [December 16, 2022].

So, when the new prices are announced, we will see the clearest picture and we will see the percentage margin for the reduction of fares. We do not have the full picture until the window opens on Friday. Hopefully, by Monday [December 19], the general public should see a reduction in transport fares,” he is quoted by CitiNewsRoom.com