I’m greatly worried – NPA boss on threat of higher transport fares

The CEO of the National Petroleum Authority (NPA) expressed deep concern over the potential rise in transport fares following fuel price hikes. Transport operators are demanding a 30% increase in fares, citing soaring operational expenses. The Ghana Private Road Transport Union (GPRTU) has maintained its proposal for a 30% hike.

The NPA recently increased the fuel price floor to GH¢16 per litre for petrol and GH¢16.77 per litre for diesel, effective September 16. Some Oil Marketing Companies have subsequently raised their pump prices. During an interview with Joy News, the NPA CEO, Godwin Edudzi Tamakloe, expressed worry about the implications of higher fares on consumers and inflation.

He stated that he and the Transport Minister have been engaging transport operators to find solutions to alleviate the pressure. Transport operators incur substantial costs, including vehicle maintenance, spare parts, fuel, driver and mate wages, and insurance. While driver and mate wages and insurance costs have remained stable, fuel expenses have become a significant issue.

The stability of the cedi has somewhat mitigated some of the potential cost increases transport operators might face due to forex fluctuations. The NPA and government have been collaborating with transport operators to share the burden of higher fuel prices. Despite these efforts, some transport operators have increased fares without prior agreement.