The Chamber of Petroleum Consumers (COPEC) is urging all commercial drivers across Ghana to fully comply with the recently announced 15% reduction in transport fares, which takes effect from Saturday, May 24, 2025.
The fare adjustment follows a significant drop in fuel prices during the second pricing window of May, with major Oil Marketing Companies (OMCs) now retailing petroleum products at just over GH₵13 per litre.
It is expected to ease the financial burden on commuters, following months of high transport costs driven by earlier fuel price hikes and exchange rate pressures.
The decline in prices is largely attributed to the sustained appreciation of the Ghana cedi against the US dollar; an improvement that has eased the cost of importing petroleum and other key commodities.
Executive Secretary of COPEC, Duncan Amoah, in an interview with Citi Business News, welcomed the fare reduction and described it as a positive and responsible step by the transport unions.
He, however, emphasized the need for full compliance to ensure commuters benefit from the current macroeconomic improvements.
“Ghanaians will be grateful to the transport operators for heeding calls for a reduction in fares. This is what responsible associations or unions are expected to do. A 15% cut is significant,” Duncan Amoah said.
He added that COPEC would continue to monitor market conditions and advocate for further relief if fuel prices fall further.
“If the trend continues and we reach GH₵10 per litre or see further strengthening of the cedi, we’ll engage the transport operators again. But for now, this is a good gesture. I urge all driver unions across the country to comply so it doesn’t appear as though the system is shortchanging commuters,” he said.
In a related development, the Abossey Okai Spare Parts Dealers Association has also instructed its members to reduce the prices of vehicle parts in line with the improved exchange rate, offering further relief to motorists and transport operators.
Source: citinewsroom.com