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Business News Fri, 25 Mar 2022

We'll increase transport fares by 15% from Tuesday - Concerned Drivers Association

NPA in discussion with OMCs to reduce fuel prices, Ofori-Atta

Fuel prices to reduce by 15 pesewas

We're passing our burden on to consumers, National Concerned Drivers Association

Public Relations Officer of the National Concerned Drivers Association, David Agboado, has noted that his outfit will on Tuesday, March 29, 2022 increase transport fares by 15 percent effective Tuesday, March 29.

The increment, he said, was a way to share their burdens with commuters for them [drivers] to be able to afford fuel.

Speaking on ClassFM mid-day news, Mr Agbado said, despite the increment in transport fares few months ago, that was not enough to cushion them in these trying times amidst the increase in fuel prices.

He said, “When we increased transport fares the other time, it was GH¢7.99 [per litre] but now it’s GH¢10.90, an increment of GH¢3 and we cannot afford it, so, we have to pass it on to the consumer; that’s how we came by this 15 percent that will take effect from Tuesday, March 29, 2022.”

Meanwhile, Finance Minister, Ken Ofori-Atta, on Thursday, March 24 announced a reduction in the BOST margin by 2 pesewas per litre and the Unified Petroleum Pricing Fund Margin by 9 pesewas per litre.

The reduction, he said, formed part of government's far-reaching measures to stabilize fuel prices at various pumps.

“These reductions in margins are expected to reduce prices of petrol by 1.6% and diesel by 1.4%. We anticipate that the measures taken to strengthen the currency will help further stabilize the prices at the pump,” he said.

Petrol and diesel currently sell at an average GH¢ 9.70 and GH¢10.80 per litre respectively.

Ken Ofori-Atta said the National Petroleum Authority (NPA) was in discussion with the oil marketing companies (OMCs) to reduce their margins “within the spirit of burden-sharing.”

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Source: www.ghanaweb.com
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