The Executive Secretary of the Chamber of Petroleum Consumers (COPEC), Duncan Amoah, has once again emphasised the need for transport operators to adjust their fares in line with recent reductions in fuel prices, despite concerns over rising costs of other inputs such as spare parts and lubricants.
Speaking on Channel One Newsroom on Tuesday, January 6, Mr. Amoah acknowledged the broader financial pressures confronting drivers but stressed that fuel remains a fundamental element in fare determination and cannot be disregarded. He explained that since fuel costs are integral to the transport fare structure, any significant drop at the pumps should naturally reflect in passenger charges. To reinforce his argument, Mr. Amoah pointed to a year-on-year comparison, noting that while fuel prices in January 2025 were nearly GH¢15 per litre, current averages stand at about GH¢11.50 per litre.
According to him, the drop represents a substantial reduction that should not be ignored in fare-setting discussions. He stressed that while other costs may not have declined at the same pace, fuel remains one of the most decisive variables in transport pricing and offers room for relief to passengers.
Mr Amoah disclosed that COPEC intends to engage transport unions directly to address the matter. He said discussions with executives of driver unions are expected to begin early next week, with the aim of pressing home the need for fare adjustments in line with current fuel prices.
“That has been the conversation and the argument of the transport operators. what we however know and are minded by is that in the computation of your transport fare metrics your fuel prices play one critical role and so it cannot be ignored. I say this on the back on the fact that a year on today January 2025 the pumps were delivering fuels at around almost GHS15 a litre. As I speak with you have averages of about GHS11.5.”
“…Early next week, we will initiate a conversation with the executives of the driver unions to press home that demand.”
The comments come against the backdrop of COPEC’s earlier call on commercial transport operators, including ride-hailing services such as Bolt, Uber and Yango, to review their fares following reductions in ex-pump fuel prices by several oil marketing companies.
COPEC had attributed the recent price adjustments to declining international refined petroleum prices, relative stability of the cedi, and increased competition within Ghana’s deregulated downstream petroleum market. The Chamber’s year-on-year assessment indicates that petrol and diesel prices have fallen by between GH¢3 and GH¢4 per litre compared with January 2025, translating into notable savings for consumers.
The Chamber of Petroleum Consumers (COPEC) maintains that consumers deserve relief when market conditions improve, just as they shoulder the burden during price increases. The Chamber has praised oil marketing companies that have already lowered pump prices and urged those yet to follow suit to act without delay.
Transport fares were last reduced by 15 percent in May of last year after negotiations between operators and the Ministry of Transport, driven by favourable macroeconomic factors such as a stronger cedi and declining fuel costs. COPEC argues that the current environment once again warrants a review of fares to ease the financial strain on commuters
Source: Abigail Arthur
