As the Ghanaian cedi continues to appreciate against major foreign currencies, pressure is mounting on transport operators to reduce transport fares in line with falling fuel prices.
Duncan Amoah, Executive Secretary of the Chamber of Petroleum Consumers (COPEC), is leading the charge, asserting that the time for action is now—and that excuses are no longer acceptable.
Speaking to the media, Amoah emphasized that the recent gains of the cedi are substantial enough to justify a nationwide reduction in transport fares.
He argued that with fuel prices dropping from GHC 15 per liter to between GHC 12 and GHC 13, the impact on operational costs is undeniable.
According to him, this represents a 15–20% decrease in fuel costs, which alone accounts for around 40% of the transport fare structure.
“That is quite significant. If there is any magnanimity on the part of transport operators, we should be seeing transport fares go down this week. That would also add to the cooling effect that Ghanian is asking for from an economy that was in some boiling state just a few months ago.
“It cannot be said that GUTA is now asking members to reduce the prices of goods and services that they render across the country, and then the transport operators wouldn’t go down. So we think, and we are calling on them as of this afternoon to begin adjusting transport fares downwards across the country. It is important they do so now.”
Duncan Amoah
According to him, the logic is simple: if traders are willing to make concessions, transport operators should not be exempt from doing their part.
The timing, he noted, is especially crucial as Ghana continues to recover from recent economic turbulence.
With inflation easing and the currency gaining strength, COPEC believes this is the ideal opportunity to bring relief to commuters who have endured months of high transportation costs.
COPEC Breaks Rank Amid Transport Fare Reduction Request
COPEC—long seen as an ally of transport unions—is now reconsidering its position in response to shifting economic realities.
Duncan Amoah recalled that just a month ago, the organization opposed calls for fare reductions, arguing that the drop in fuel prices at the time was insufficient to justify such a move. That position, he said, is no longer tenable.
“With the highest market price now around GHC 13.3, and some even offering fuel at GHC 12.00, we’ve seen significant reductions due to the cedi’s appreciation, we will not be able to, at this point, continue to make the same excuses we made for the transport operators not to reduce fares.”
Duncan Amoah
He added that while fuel costs are a major factor in determining fares, they are not the only component. Spare parts and lubricants also contribute to the cost of operations.
However, with GUTA now urging spare parts dealers to drop their prices—and lubricants usually tracking with fuel price trends—COPEC maintained that the justification for keeping transport fares at current levels is steadily diminishing.
From Amoah’s perspective, the writing is on the wall. The cedi’s rebound is creating tangible savings across various sectors. To illustrate, he used a hypothetical scenario: if a company had a $1 million debt, the cost to repay it when the exchange rate was poor might have been GHC 16 million.
With the improved rate, that cost could now be around GHC 13.2 million—a GHC 2.8 million saving. That’s no small margin and, in his view, it’s reason enough for the transport sector to adjust its pricing accordingly.
He was also quick to highlight COPEC’s consistent efforts to support fair pricing and defend the public interest.
“Don’t forget COPEC has been one of the bodies that has fiercely defended our transport union. But now, with the economic indicators pointing in a different direction, the fair thing to do is for the transport operators to reduce their fares.”
Duncan Amoah
Amoah concluded with a clear call to action: transport unions like the Ghana Private Road Transport Union (GPRTU) must take a cue from GUTA and follow through with fare reductions that reflect the current economic reality.
In a country where public transport remains the lifeblood of mobility for millions, any adjustment in transport fares has a ripple effect on daily life and economic resilience. For now, all eyes are on the transport unions, and the clock is ticking.
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