‘Fuel prices drop for Ghana but my bus fare never reduce’

Ghanaians make concerned about high transport fares in de country despite de recent reduction in fuel prices.

Dis reduction in fuel prices be sake fuel prices reduce on de international market, as a barrel of Brent crude fall below $80 for de first time since January.

Dis reduction in world price affect cost of fuel for local pumps in Ghana but citizens no dey feel de impact yet.

“Around early January wey I hear say fuel prices go down but my transport fare never change” Florence talk BBC Pidgin.

“I dey spend Ghc19 for transport daily, one time I ask de bus conductor why dem no reduce prices he no mind me” she add.

Like Florence, more Ghanaians dey raise concerns over de high transport fares despite de drop in fuel prices.

Why we no reduce transport fares

Market analysts dey project say fuel prices for Ghana go drop from de current Ghc15.49 per litre for petrol and Ghc19.86 for diesel to about Ghc 13 per liter for fuel and sell diesel for Ghc16 per litre.

According to Institute for Economic Energy (IES), de expected price drop dey happen sake of de cedi appreciate against de US dollar by some 6.60%.

IES dey predict say by December 16, prices for de local pumps go start dey reduce again.

But why dis decrease no dey affect de transport fares?

According to Christopher Teye, one transport operator and member of GPRTU, de prices no reduce sake of other things which dey connected to de transport business like spare parts never reduce.

“We transport operators dey buy spare parts always to run de car, de oil lubricants wey dey buy no reduce so how we fit reduce transport fares” he talk.

According to him, “cost of spare parts which we dey buy often also dey up, e never reduce so we still dey buy expensive parts take maintain de car.”

“Passengers no know about dis other costs that be why dem feel say if fuel prices reduce then automatically transport too for reduce” he conclude.

Parliament debate about transport fares

Lawmakers raise concerns on why transport operators no dey reduce fares.

Transport Minister, Kwaku Ofori Asiamah explain say some other factors dey inside de price build up that be why prices no reduce yet.

He explain say three things dey affect transport fares, de performance of cedi against de dollar, cost of spare parts den fuel prices.

“To determine transport fares de cedi-dollar, cost of spare parts den fuel play role” he add.

He however assure say dem dey work with GPRTU to address de issue of transport fares.

Inflation hit 50.3% for Ghana

Annual consumer inflation for Ghana reach all time high 21-years.

From de previous inflation rate of 40.4% in October, inflation rate for November hit 50.3%.

Market observers say dis go fit come down sake of de latest positive market reactions like cedi gaining against de dollar and de IMF staff-level agreement wey Ghana get for $3billion loan facility.

De inflation rate affect cost of utilities, food and fuel, data, housing, transport den other consumables Ghana dey import.

But with de strengthening cedi, inflation for de month of December go fit look better than de current 50.3%.