The CEO of the National Petroleum Authority (NPA), Godwin Edudzi Tamakloe, says he is “greatly worried” about the prospect of higher transport fares following the latest increase in fuel prices.

His concern comes as transport operators push for a fare adjustment, citing rising operational costs.

The Ghana Private Road Transport Union (GPRTU) has maintained its proposal for a 30% increase in transport fares. The latest fuel price increases have added fresh pressure to the ongoing discussions with government.

The NPA raised the price floor for petrol to GH¢16 per litre and for diesel to GH¢16.77 per litre from September 16. Some Oil Marketing Companies have since increased their pump prices.

Speaking on Joy News’ PM Express Business Edition on Thursday, Mr Tamakloe said the potential impact of higher fares on consumers and inflation was a major concern.

“I’m greatly worried.”

He said he and the Transport Minister had been engaging with transport operators to find ways to manage the pressure.

“Greatly worried in a sense that together with the Minister for Transport, we’ve been engaging the transport operators, and the whole idea is that government has been doing so well.”

Mr Tamakloe said transport operators face several major cost components, including vehicle maintenance, spare parts, fuel, driver and mate payments and insurance.

“First of all, for transport business, there are three essential things that you always want to look at: the cost of maintaining the freight, the cost of spare parts. Not only that, the cost of running the business, that’s fuel cost.”

He said payments to drivers and mates had generally remained stable, while insurance costs had also largely remained unchanged.

“What has become impactful now has to do with the fuel price.”

According to him, government measures have helped absorb some of the potential increases transport operators could otherwise have faced.

“The cedi stability has absorbed potential cost for you from the forex end. That’s government’s intervention.”

He also pointed to government support aimed at cushioning the impact of higher fuel prices.

“So the issue now has to do with this. Now government is also coming in to cushion periodically the impact of the increase in prices.”

Mr Tamakloe said the NPA and government had engaged transport operators on the need for all sides to share the burden.

“So we have jaw-jawed with the various transport owners that there is a time for us to also bear the share.”

He said those engagements had helped put the planned fare increase on hold.

“And that is why you notice that the attempt to increase the price or increase fares has basically been put on ice.”

He commended the leadership of the GPRTU and other transport groups for engaging government constructively.

“I think that the GPRTU, and I salute their leadership, the PROTOA and all those other people, that so far we have had some constructive engagement with them, which has greatly been impactful.”

However, he said some transport operators had still increased fares without agreement.

“There are some a few there are a few recalcitrant ones that have decided to increase their prices arbitrarily.”