On Wednesday, May 17, 2023, transportation rates in Ghana will be reduced by 10%, as announced by the Ghana Road Transport Operators.
The group said that the drop corresponds with the ongoing decrease in pricing for petroleum goods. The Road Transport Operators issued a statement on Monday, May 15, announcing the decision.
The statement claims that the price reduction applies to transportation services such as shared taxis, local buses, long-distance buses, and goods trucks.
In a statement released on May 15, 2023, the Road Transport Operators said that, “In line with the Administrative Arrangement on Public Transport Fares, the Road Transport Operators have reduced public transport fares by 10% to accommodate for the reductions in the price of petroleum products observed over the period.”
Transportation costs have increased as a direct effect of the current economic crisis in Ghana, which has led to numerous increases in the price of petroleum products. However, this will be the second time that the road transport operators have said they will lower prices after recent drops in fuel costs.
Fuel and transit cost increases have resulted in parallel increases in the costs of products and services, making life even more difficult for Ghanaians.
Commercial transport companies were also urged to comply with the new prices and post the same prices at their loading stations.
Before this cut, transport costs had increased multiple times to account for the ever-increasing price of fuel. As of Tuesday, May 16, 2023, analysts had predicted that costs for petroleum goods would drop even lower.
