Some commercial drivers in Accra are threatening to unilaterally increase prices of lorry fares  following the about 30 per cent hikes in fuel prices.

The drivers have been asked to hold on until next week by which time the Transport Ministry will finish negotiations with the various transport unions before new transport fares will be announced.

A meeting between the members of the union and the transport ministry ended in a deadlock with the drivers asked to wait till next week.

But the drivers say they cannot wait. Some of the drivers who spoke to Joy News said the prices of insurance, spare parts have all been increased and they cannot wait for a week before increasing transport fares.

They are therefore plotting to increase the prices by themselves.

Per the regulation anytime hikes in fuel prices exceed 12 per cent the commercial drivers are also entitled to announce hikes in transport fares after negotiations with the Transport Ministry and other stakeholders.

On January 1, 2016, the Oil Marketing Companies announced close to 30 per cent hikes in fuel prices following the introduction of energy sector levy in Parliament.

The hikes are expected to affect prices of other commodities which will lead to a high cost of living.