Transport operators have agreed to reduce fares by 15% following successful negotiations with the Ministry of Transport. The fare adjustment reflects recent macroeconomic developments, including a sustained appreciation of the cedi against the US dollar, contributing to a notable drop in fuel prices.
According to Abass Imoro, Industrial Relations Officer of the Ghana Private Road Transport Union (GPRTU), the reduction will take effect from Saturday, May 24, 2025.
“We have finally agreed to reduce lorry fares by 15%, but it will take effect from Saturday,” he confirmed in an interview with Citi News.
Mr. Imoro noted that although spare parts sellers have promised to reduce some of their prices, the reduction has not yet taken effect.
“Although currently, spare parts sellers have promised to reduce some of their prices for now, which hasn’t taken effect, and none of the lubricants which went up has been reduced currently, but we decided to peg the reduction at 15%,” he explained.
The development comes after the Abossey Okai Spare Parts Dealers Association urged its members to reduce auto parts prices in response to the improved exchange rate. The fare reduction is expected to ease the financial burden on commuters.