The Ghana Public Road Transport Union (GPRTU), has intimated that it is awaiting the pending reduction in fuel prices as indicated by the Chamber of Bulk Oil Distributors (CBOD).

The Industrial Relations Officer of GPRTU, Abass Imoro, disclosed that the Union awaits the implementation of this announcement to help influence its next course of action as to whether there would be an increase in fare prices. He revealed that prior to the indication to reduce the fuel price, the Union was about effecting a 15 percent upward adjustment in fare prices but withheld its decision due to the information it received.

“We had wanted to do that yesterday. We organized a press conference whiles we were about to start, we had information that there will be some reduction in fuel prices. We verified and found out that yes it was true. So, we later returned and postponed the press conference. So, we are waiting.”
Abass Imoro

We Are Projecting A 6% Petroleum Price Increase- COPEC — An attendant pumping fuel into a car fuel tank

According to the GPRTU Industrial Relations Officer, the only thing that would hoard the 15 percent increment in transport fares is, if the reduction of fuel prices is to an extent that a litre of fuel will be sold at GHS8.80 pesewas. The Union stated that anything more than that amount would mean an increment in transport fares across the country.

“The upward adjustment in fares, we were comparing it to the over 30 percent upward adjustment in fuel price. If it is less than the 8.80 pesewas, then we have no cause to bring any increment. So, we can organize ourselves and come up with something.”
Abass Imoro

According to Abass Imoro, the country is currently in an “electronic era” and so the union cannot be faulted in actions it takes based on current happenings. He averred that government cannot describe the Union’s request for a GHS2 reduction in fuel price as unrealistic when fuel prices have hiked more than that in just a month.

“Are they telling us that is realistic? Look at the pace, how do we work? Even pure water has increased, so what are they telling us? Are we in an animal kingdom? Some people will enjoy others won’t enjoy. I mean we can’t leave like that.”
Abass Imoro

Public and private sectors are not competitors- Senyo Hosi — Chief Executive of the CBOD, Senyo Hosi

Pending GHS1 reduction in fuel prices

Abass Imoro’s comments followed an indication by the Ghana Chamber of Bulk Oil Distributors (CBOD) that it has forecasted an up to GHS1 per litre reduction in the price of petrol and diesel by today, April 1, 2022. The Chief Executive of the Chamber, Senyo Hosi, who disclosed this, stated that the decision followed several engagements the CBOD had with the Bank of Ghana (BoG) and stakeholders to fashion out interventions aimed at reducing the prices at the various pumps.

Senyo Hosi indicated that additional measures have been agreed upon and are expected to reduce prices. According to him, once these measures are implemented, there will be some relief for consumers.

“The key thing that will really deal with the challenges we have will be the exchange rate interventions that government is looking at together with the Central Bank. Come April 1, 2022; we should be able to see a better position on petroleum prices.”
Senyo Hosi