Pulse.com.gh logo
Go


Petroleum war Deregulation will have no impact on transport fares - GPRTU

Alhaji Yaw Manu says the petroleum deregulation policy will have no impact on transport fares

  • Published: , Refreshed:

National Chairman of the Ghana Private Road Transport Union (GPRTU), Alhaji Yaw Manu has revealed  that the petroleum deregulation policy will have no impact on  transport fares.

As fuel prices  rise and fall every fortnight, some  Ghanaians have been expecting a corresponding elasticity in the prices of other commodities whose pricing are often affected by changes in fuel prices – like  transportation fares. This has not exactly been the case since the implementation of the deregulation policy. The Ghana Private Road Transport Association did not review transportation fares downwards in the month of July 2015,  even though prices of petroleum products decreased by an average of 15 per cent. 

As petroleum  prices change today, with Oil Marketing Companies like Shell, Goil and Total Ghana Ltd reducing their prices despite the Africa Center for Energy Policy’s  expectation that prices will go up by 3 per cent today,  questions have been raised as to whether there will be a corresponding revision of transportation fares.  

According to the National Chairman of the GPRTU, transport operators cannot  adjust their prices as frequently as fuel prices change under the deregulation policy.

‘Even though we depend on fuel as a major input in our business, we cannot change prices as frequently as fuel prices change. We have agreed with government to review the prices yearly. It may go up or down. But we cannot always change our prices.’ Alhaji Manu told the media Monday.

The GPRTU boss also emphasized that, given that Oil Marketing Companies have different prices at which they sell their products, it will be  difficult to get a suitable pricing system for transport fares. They will therefore stick to their agreement with government to review transport fares annually.

Do you ever witness news or have a story that should be featured on Pulse Ghana?
Submit your stories, pictures and videos to us now via WhatsApp: +233507713497, Social Media @pulseghana: #PulseEyewitness & DM or Email: eyewitness@pulse.com.gh.

Recommended Articles

Recommended Videos




Top Articles

1 Investment banks in Ghana Top 5 investment banks in Ghana and why you...bullet
2 Banking Crises Joe Jackson urges BoG to ‘rate’ banks to restore confidencebullet
3 Salaries In 2018 Here are the dates public workers will be paid in 2018bullet
4 Duncan Amoah Fuel prices up by 2%; COPEC calls for dialogue on pricingbullet
5 Tax Policy Gov't weighs in on controversial MoMo taxbullet
6 Unibank Collapse Shareholders of uniBank unhappy with leaked...bullet
7 Banking In Ghana Stranded customers of First Allied Savings...bullet
8 How to create a verified PayPal account Learn how to...bullet
9 UT Banks Collapse “I’m saddened by the turn of events” –...bullet
10 Education Top 5 private high schools in Ghana...bullet

Top Videos

1 Forbes 2018 Africa's billionaires rich listbullet
2 Former Capital Bank staff grills pork for survivalbullet
3 Support Finance minister buys Kantanka carbullet
4 Plane Crash Starbow suspends operations following plane crashbullet
5 Dr Joseph Siaw Agyepong Nobody can collapse my company – JOSPONGbullet
6 Money Alert Meet Africa's richest womanbullet
7 New Discovery Ghana discovers new mineral, lithium in...bullet
8 Bozoma Saint John 10 quotes from Uber top official,...bullet

Business