Fuel price hikes: Drivers to charge old fares

Commercial drivers in Ghana have been directed to maintain the existing transport fares, despite an increment in prices of some petroleum products.

A joint statement signed by the General Secretary of the Ghana Private Road Transport Union, Stephen K. Okudzeto, and General Secretary of Ghana Road Transport Co-coordinating Council, Alhaji Aliyu Baba directed drivers to wait until the midyear review of fares.

‘Following the recent increase in the price of petroleum products, all transport operators are being informed not to increase transport fares pending the midyear review of transport fares which is scheduled for June, 2015,’ the statement read.

The National Petroleum Authority (NPA) has announced a 9% increment in prices of some petroleum products. The adjustment takes effect Sunday, May 17, 2015.

Petrol is now selling at Gh¢3.33 from the current price of Gh¢3.5. Diesel will also be selling at Gh¢3.24 up from the current price of Gh¢2.97 per litre.

LPG is expected to be sold at Gh¢2.88 from the old price of Gh¢2.64. Unified petroleum and kerosene for mining firms are expected to go up by 4 per cent. However, premix fuel and RFO will not see any price adjustments.

NPA explains
Meanwhile, a statement from the Chief Executive of the NPA, Moses Asaga has said: ‘The increment is the direct result of increases in the world market price of the various commodities. Between February 2015 and now, there has been a 37% change in the price of Petrol, 26% in diesel and 43% in LPG.

‘This had led to an increasing rate of unpaid under recoveries or subsidies, amounting to about GH¢146 million, which is causing serious liquidity challenges for the Bulk Oil Distribution Companies (BDCs). If not checked, this can lead to fuel shortages at the pumps and its attendant effects on productivity.’

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