The Ghana Private Roads and Transport Union (GPRTU) has hinted that transport fares are likely to go up soon.

According to the union of commercial lorry drivers, the possible increase in fares has come to the fore following constant increases in the prices of vehicle spare parts and fuel.

The Vice Chairman of GPRTU, Robert Saba, explained said members of the union have had to bear the extra cost for some time now, but can no longer absorb it.

“The spare parts have gone up and it is not the fuel alone that we use in calculating our fares. Looking at the current situation, the spare parts have gone up and it demands for an increase in lorry fares. Almost every part that we use [the price] has gone up,” he told Accra-based Citi FM.

 “We have fought hard not to increase the fares. The tyres that we use, the rings that we buy in overhauling our vehicles, the bearings; almost everything has gone up. With this, we have no choice but to increase fares to mitigate the impact,” he adds.

Mr Saba's concerns about hikes in spare part prices come despite government's decision to scrap import duties on some vehicle parts.

Mr Saba reveals, however, that the decision to increase transport fares will be done in concert with government and major stakeholders in the transport sector.

Consumers in Ghana have recently been enduring price hikes in petroleum products on account of increases in crude oil prices on the international market.

In an attempt to stabilize the prices, the Energy Ministry directed the National Petroleum Authority (NPA) to activate the Price Stability and Recovery Levy (PSRL) under the Energy Sector Levies Act 899 which is to provide stability for consumers at the pump in times of rising prices of petroleum products on the international market. 

But it seems the PSRL has not helped with the constant marginal hikes in fuel prices.