The Ghana Road Transport Coordinating Council (GRTCC) has hinted at possible reductions in public transport fares, but insists that any move will depend on sustained fuel price stability and assurances from the government on the cedi’s performance.
Speaking on the issue, General Secretary of the Council, Mr. Emmanuel Ohene Yeboah, confirmed that discussions with the Minister for Transport would begin next week as the Council monitors price adjustments from Oil Marketing Companies (OMCs).
“The fuel is not the only component that comes under consideration.” Fuel prices have started dropping this week, with expectations of a 6 to 8 percent decline across major pumps. However, transport operators remain cautious.
Mr. Yeboah explained that fuel costs alone do not determine fare levels, stressing the long-standing pressure from spare parts, lubricants, and other operating expenses that have burdened commercial drivers.
The GRTCC has kept fares unchanged throughout 2024 despite economic strains, citing the high cost of inputs across the transport sector. According to Mr. Yeboah, transport operators have absorbed significant costs in recent months, even as spare parts prices surged and the exchange rate fluctuated.
As such, a sudden drop in fuel prices, while welcome, may not immediately trigger a fare reduction without clear signs of long-term market stability.
No Rush to Adjust
Mr. Yeboah made it clear that the Council is not rushing to announce a fare cut just yet. GRTCC expects to begin dialogue with the sector minister and the government by Monday. According to him, any decision will be rooted in careful analysis of pricing trends and government’s posture toward stabilizing key economic indicators.
“In fact, we are in the process. Today is Friday and it is today that some of the OMCs are coming down with their prices. So we’ll look at what we can do”
Mr. Emmanuel Ohene Yeboah, General Secretary of GRTCC
He emphasized that unless there is a firm assurance that current price drops will last at least “three months,” fare reductions would be counterproductive. “We’ll not be able to speak much about the reduction until then.”
A situation where fares are reduced only to be increased again within weeks, he warned, would create frustration among commuters and chaos in the transport system.
Mr. Yeboah expressed hope that the Mahama-led administration would provide clarity and consistency on fuel pricing and the cedi, which he described as central to any transport cost relief efforts.
In his view, the volatility of the economy over the past year has made the GRTCC wary of short-term gains that could be reversed overnight.
Government Commitment
Although the GRTCC welcomes the recent cedi appreciation and fuel price dip, Mr. Yeboah warned that these gains must not be temporary.
A reduction in transport fares, he said, would only be meaningful if the new economic outlook can be maintained for a considerable period rather than “a nine day wonder.”
Mr. Yeboah underlined that transport operators need time as the Council will be monitoring the full extent of OMC pricing adjustments before entering discussions on the way forward – whether prices will be adjusted or not.
The GRTCC’s position highlights the balance between protecting passengers and ensuring operational sustainability for drivers, especially after months of financial strain. The outcome of these deliberations could have significant implications for commuters nationwide.
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