The Ghana Private Road Transport Union (GPRTU) has ruled out the possibility of transport fare increments in the coming days on the back of recent upward adjustments in prices of petroleum products at the pumps by major Oil Marketing Companies (OMCs) in the country.
According to the umbrella union of transport operators in the country, the recent fuel price increments has not yet crossed its established 10 per cent threshold price increments in fuel and other variables like spare parts to invoke fares increment talks with government.
An analysis of the price increments made by the major OMCs – Shell, Total, Puma and Goil – so far in the first quarter of 2021, amount to a 9 percentage points increment, a marginal 1 percentage point below the Union’s established 10 per cent.
The GPRTU however added that, should fuel prices continue to increase as projected, it will however be forced to push for talks with government on the need for increment in transport fares.
An increase in transport fares will automatically result in the price increment of goods and services in the country raising the cost of living of Ghanaians.
Big OMCs in the country have for some few weeks now reviewed upwards prices of finished petroleum products at the pumps twice – in late December 2020 and January 2021.
Several energy analysts in the country have bemoaned the continuous upward adjustments in fuel prices by OMCs, noting the price adjustments are having a toll on consumers.
Further accusing the OMCs of being insensitive to the plight of Ghanaians as they are quick to adjust fuel prices upwards at the pumps when there are increments in petroleum prices on the international market, but slow to reduce petroleum prices at the pumps when they fall on the international market.
