Spare parts dealers at Abossey Okai oppose calls for price reduction

Some spare parts dealers at Abossey Okai cannot lower prices now.

They bought their current stock when the exchange rate was higher. Reducing prices is not economically feasible for them at this time.

One dealer explained, “It’s not possible to reduce prices now. We ordered goods at a higher rate. We must sell these before we can adjust prices.”

Another dealer said, “I can’t lower prices until I sell my current stock. If I reduce prices now, I risk losing my job.”

Dealers understand that the dollar is down and the cedi is up. They will consider lowering prices when the dollar stabilizes.

In related news, the Ghana Private Road Transport Union (GPRTU) announced a 15% fare reduction. This change takes effect on Saturday, May 24, 2025.

The decision follows successful talks between transport operators and the Ministry of Transport. The fare adjustment reflects the cedi's appreciation against the US dollar and falling fuel prices.

Abass Imoro from GPRTU stated, “We agreed to reduce lorry fares by 15%, effective Saturday.”

While some spare parts sellers plan to lower their prices eventually, no reductions have occurred yet for lubricants or other items.