Business & Finance

Transport Fares To Go Up By 30%

Transport operators have encouraged Ghanaians to brace themselves for a 30% fare increment starting next week.

This follows a one-year hiatus in fare increments in 2023.

The announced increment aims to address the surge in costs associated with services essential to their transportation business.

The new prices will take effect on Monday, January 22, 2024, as confirmed by Yaw Barima, the Public Relations Officer of True Drivers Union, in an interview with UTV.

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“Effective 22nd of January, which is a Monday, there will be a review in transportation fares. It will increase to address some challenges to our work,” he said.

In justification, he mentioned that the increment would help cover surges in the cost of insurance, spare parts, DVLA service charges, and other related expenses.

This decision comes after the Ghana Private Road Transport Union (GPRTU) initially threatened a 60% increase in transport fares due to the passage of the Emissions Levy Bill. The bill imposes an annual charge of 100 cedis on all owners of petrol and diesel cars.

However, the demand was dropped last week.

The year 2022 witnessed unrest due to rampant fare increments resulting from a surge in global oil prices and Ghana’s Cedi depreciation crisis.

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