The Ghana Private Road Transport Union (GPRTU) has called recent price increases in petroleum items in the country as worrying.
From September 1, 2022, fuel prices at the local pumps increased by around 5.4 percent, with petrol and diesel selling at an average of GHS 11.55 and GHS 14.50, respectively.
Petrol and diesel were trading for GHS6.9 and GHS7.0 per litre on average at the start of the year.
Mr Abass Imoro, Head of Communications, GPRTU, told the Ghana News Agency that the rate of increase in the last few weeks will have an impact on the revenue of commercial drivers.
“We are almost in a buy-and-sell business. The rate at which we are buying (fuel) now is alarming. It is really affecting our business,” he said.
Mr Imoro stated that the GPRTU’s leadership will meet this week to discuss rising fuel prices and policy actions that would minimise the impact on its members.
When asked if the conference will deliberate on raising transportation fares, he answered, “We need to think about it all before we make a decision.”
The nationwide average price per litre of petrol in the last pricing window (which concluded on August 31, 2022) was GHS10.95, up from GHS10.58 in the previous window, reflecting a 3.50 percent rise.
According to data published by the Institute for Energy Security, the national average price of diesel per litre was GHS 13.42, up from GHS 13.28 previously, reflecting a 1.05 percent rise (IES).
The IES predicted that petrol and diesel prices would rise by 5% to 10% at the various pumps during the current pricing window, adding close to 70p per litre to the present costs.
“The sharp depreciation of the Ghana Cedi against the US Dollar at over 10 per cent is identified as the main cause for this rise.
“Consumers are advised to plan accordingly to the expected price hikes in the coming days,” it said.
