Fuel prices may rise, but GOIL says 30% transport fare hike doesn’t add up
GOIL says rising fuel prices alone cannot justify the Ghana Private Road Transport Union's (GPRTU) proposed 30% increase in transport fares.
GOIL, the Ghanaian oil marketing company, maintains that the 30% proposed increase in transport fares by the Ghana Private Road Transport Union (GPRTU) does not solely stem from rising fuel prices. Edward Bawa, GOIL's CEO, stated that other factors such as currency exchange rates, spare parts, and insurance costs also play a significant role in determining fare increases.
The current stability of the cedi, despite global crude oil prices nearing $100 per barrel, should be considered when evaluating fare adjustments, Bawa argued. The CEO emphasized that GOIL aims to support transport operators while maintaining reasonable prices for consumers. He urged GPRTU to consider the broader economic environment when determining fare adjustments, suggesting that a comprehensive approach would lead to fairer outcomes for all stakeholders.
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