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

Godwin Edudzi Tamakloe, CEO of the National Petroleum Authority (NPA), expressed deep concern over the possibility of increased transport fares following the latest surge in fuel prices. Transport operators are seeking a 30% fare hike, citing mounting operational expenses. The Ghana Private Road Transport Union (GPRTU) has maintained its demand for a 30% increase.

The NPA raised the fuel price floor to GH¢16 per litre for petrol and GH¢16.77 per litre for diesel as of September 16. Some oil marketers subsequently raised their pump prices.

Addressing concerns about the repercussions of higher fares on consumers and inflation, Tamakloe emphasized his worry about the situation. He and the Transport Minister have been discussing with transport operators to mitigate the pressure. Both parties acknowledged the significant costs involved in running a transport business, such as vehicle maintenance, spare parts, fuel, driver and mate wages, and insurance. Fuel costs have recently become a major contributing factor, prompting the fare debate.

Tamakloe highlighted government interventions, including cedi stability and financial support, that have cushioned the impact of the fuel price hikes. He stressed the need for all parties to share the burden, leading to a temporary halt in the planned fare increase. Tamakloe praised the GPRTU and other transport groups for their constructive dialogue with the government. However, he noted that a few operators had still unilaterally increased fares without reaching an agreement.