Transport operators to reduce fares by 15% on May 24th

The Ghana Private Road Transport Union (GPRTU) and other transport operators announced a 15% fare reduction. This change will take effect on Saturday, May 24, 2025.

The decision follows successful negotiations with the Ministry of Transport. The fare drop is due to the cedi's appreciation against the US dollar. This has led to lower fuel prices.

Abass Imoro, GPRTU's Industrial Relations Officer, spoke to CITI NEWS. He confirmed that lorry fares would be reduced by 15%. However, he noted that spare parts prices have not yet decreased.

Spare parts dealers at Abossey Okai are resisting price cuts. They argue their current stock was bought at higher exchange rates. Reducing prices now would not be economically feasible for them.

One dealer explained that they must sell existing stock before lowering prices. Another dealer stated they cannot reduce prices without incurring losses. They plan to adjust prices only when new stock is ordered at lower rates.

Dealers acknowledge the dollar's decline but prefer to wait for stability before reducing prices.