• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

Transport fares cut by 10% following downward trend in petroleum prices; new fares effective tomorrow

2 years ago
in Business, Features, highlights, Home, home-news, latest News, Transport
1 min read
0 0
0
130
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Transport fares cut by 10% following downward trend in petroleum prices; new fares effective tomorrow

In a recent development, transport fares in the country have been reduced by 10% following the downward trend in petroleum prices. The announcement was made by the Road Transport Operators in a release signed by Emmanuel Ohene Yeboah, General Secretary of Ghana Road Transport Coordination Council, and Godfred Abulbire, General Secretary of Ghana Private Road Transport Union (GPRTU).

According to the statement, the Administrative Arrangement on Public Transport Fares has been adjusted to accommodate for the recent reductions in the prices of petroleum products observed over the period. The new fares will apply to shared taxis, intra-city buses, popularly called tro-tro, intercity (long-distance) buses, and haulage vehicles. The release also urged all commercial transport operators to comply with the new fares and post the same at their loading terminals.

This announcement comes after a series of transport fare hikes in 2022. In February 2022, there was a 15% increase in the cost of transport, while in May 2022, transportation fares went up again by 20% due to the increase in petrol and diesel prices. In October 2022, transport fares increased by 19%, and road transport operators later reduced fares by 15.3% in December 2022.

The high cost of transportation has been a source of controversy in Ghana due to its direct impact on the prices of all goods and services. The dominance of the private sector in urban mass transportation service provision has made transport fares a crucial issue for workers who use these means to commute to their workplaces.

The reduction in transport fares is expected to have a positive impact on the prices of goods and services, as it will reduce the cost of transportation. The statement urged drivers and commuters to ensure the smooth implementation of the reduction to enable the benefits to be realized.

The recent reduction in transport fares in Ghana is a welcome development for commuters and businesses who have been affected by the high cost of transportation. It is hoped that this reduction will translate into a decrease in the prices of goods and services, leading to a boost in productivity and economic growth.

RelatedPosts

Ghana Aims for Victory Against Central African Republic in Crucial World Cup Qualifier

Banks Write off GHS 893m in Bad Loans for First Half of 2025 

Former Bank of Ghana Deputy Governor Wins Inaugural Women in Leadership Fellowship at Oxford

Tags: Ghana Private Road Transport Union (GPRTU)petroleum pricesTransport faresTransport Fares cut by 10% following a downward trend in petroleum prices; new fares effective tomorrow
No Result
View All Result

Highlights

Banking Industry: Non-Performing Loans Edge Higher to GHS 20.7bn

‘The Gulf of Guinea is our Wall Street, IMF, and World Bank Combined’, Says Air Vice Marshal Hanson 

GJA President Underscores Vital Role of Journalists in Safeguarding Ghana’s Maritime Domain

Barrick Exits Ivory Coast With $305 Million Tongon Mine Sale

Sub-Saharan Africa’s Growth to Accelerate to 3.8% in 2025 Amid Inflation Easing – World Bank

Sub-Saharan Africa Maintains Resilient Growth but Faces Urgent Jobs Challenge

Trending

Features

Ghana Aims for Victory Against Central African Republic in Crucial World Cup Qualifier

October 7, 2025

Ghana Aims for Victory Against Central African Republic in Crucial World Cup Qualifier Ghana's Black Stars are...

Banks Write off GHS 893m in Bad Loans for First Half of 2025 

October 7, 2025

Former Bank of Ghana Deputy Governor Wins Inaugural Women in Leadership Fellowship at Oxford

October 7, 2025

Banking Industry: Non-Performing Loans Edge Higher to GHS 20.7bn

October 7, 2025

‘The Gulf of Guinea is our Wall Street, IMF, and World Bank Combined’, Says Air Vice Marshal Hanson 

October 7, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.