Transport fares are expected to go up by 18 percent beginning this morning. The increase follows yesterday’s announcement by the National Petroleum Authority of a 30 percent adjustment of petrol, diesel, and LPG which takes effect from today.
However, kerosene and pre-mix fuel are not affected by the price increases.
The NPA said the price adjustment was necessitated by a rising price of crude oil on the world market.
Petroleum price increases often lead to nasty clashes and disagreements between commuters and transport owners. To forestall such quarrels, the Chairman of the Ghana Road Transport Coordinating Council Mathew Hayford said the council has already met and approved an 18 percent increase.
He explained that the increase in fuel prices accounted for eight per cent increase in the fares with increase in insurance levies and prices of lubricants accounting for the remaining 10 per cent.
Mr Hayford said taxi fares will however be calculated differently.