Executive Secretary of the Chamber of Petroleum Consumers (COPEC), Duncan Amoah, has lamented the reluctance of the Ghana Public Road Transport Union (GPRTU) to reduce transport fares despite the decline in fuel prices in the country.
According to him, it is quite unreasonable on the part of the biggest constituents to COPEC to have the kind of arguments being advanced that it will only reduce fares with fuel prices at a certain amount. He indicated that although COPEC has been a staunch advocate of the Union, its current stance doesn’t bode well for Ghanaians.
Duncan Amoah
“If you also don’t reduce transport fares, the cost of goods and services will not come down. On this one, I’m afraid the GPRTU is being insensitive to the struggling Ghanaian who patronize them and I’m afraid the transport operators will have no justification to continue to keep the transport rate where they are.”
Mr Duncan pointed out that when fuel prices were being sold at GHC15.99, GPRTU met with the ministry with its intent to increase transport fares by 30% and 40% to which both parties eventually settled on 19%. He recounted that when an increase in fuel prices was recorded again, the union acted in similar fashion. This, he explained, won’t augur well for the consuming public if fares are not reduced despite a decline in fuel prices.
“So, it’s just not been the 19% recorded, there’s been another 20%. I was on air defending them on the need to go up on transport fares because the time was hectic. If today diesel is expected to decline from GHC23 all the way to about GHC15 and anybody will continue to play the emotional card that we cannot reduce [it won’t help]…”
Duncan Amoah
Reduction in fuel prices in the country
Commenting on the decline in fuel prices in the country, the COPEC Executive Secretary stated that it is good news for Ghanaians, considering the sporadic depreciation of the cedi. Due to this, he disclosed that per COPEC’s projections it is expecting petrol to “do between GHC12 and GHC13 for the second window in December which commences tomorrow, Friday, December 16”.
“I think it should be good news for those of us on this side, especially when you consider that two months ago, the cedi was behaving like lotto numbers… So, if you heard prices going up a month or two ago and the excuse or justification was that we’ve had the cedi depreciate and that is why the fuel prices are going up, then when you wake up and you hear the cedi is gaining, on the dollar, it should be good news for your fuel prices to also decline.”
Duncan Amoah
Again, Mr Amoah revealed that he also expects diesel to trade at GHC15, maximum GHC16, while LPG prices is expected to go down by at least some 12% per kilogram, effective tomorrow.
“If you’re currently doing GHC20 and GHC21 for LPG, then you’re hoping to decline by GHC18 and 17.5159 thereabout. Then you come to what the market is already giving all of us. I can without holding on to too much protocol confirm that Star Oil is clearly willing to give Ghanaians the kind of relief we would expect. I am doing this specifically for the fact that they seem to respond to these numbers a lot quicker. So, while other OMCs are waiting for 16 December before they can reduce prices, Star Oil as I speak to you is doing GHC12.99, whereas the other major OMCs are all hovering around the GHC15.41 for petrol…”
Duncan Amoah
Mr Amoah indicated that other fuel pumps are expected to reduce their fuel prices in order to bring some relief to Ghanaians. Justifying his stance, he stated that the double increases in some of the windows by some OMCs were carried out when the dollar was hectic and they couldn’t even put a finger to what prices could be in the next window. Owing to this, he noted that they must mirror the decline to beat down fuel prices.
“… There were windows that they increased from the 16th or 1st of the month and within the month, they increased again because the dollar was hectic. Now that the reverse is happening, we will be happy to see them with same zeal reduce or decline their prices at the pump so Ghanaians can have some relief and it is on that that I mention these prices, what account for price differentials in fuel pumps.”
Duncan Amoah
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