The Ghana Private Road Transport Union (GPRTU) says it is preparing to announce new transport fares by the end of this week following another increase in petroleum prices.

The union’s Deputy Spokesperson, Samuel Amoah, says the decision has become necessary as transport operators continue to grapple with rising fuel prices alongside increasing costs of spare parts, lubricants and taxes.

Speaking on Joy FM’s Midday News on Tuesday, September 1, Mr Amoah said the union had initially proposed a 30% increase in transport fares at a meeting in August.

However, the proposed adjustment was suspended after government announced a GH¢2 reduction in the price of diesel and assured the transport operators that measures would be taken to bring costs down.

According to Mr Amoah, the expected reduction did not materialise during the middle pricing window of August, while transport operators continued to face high operating costs.

He said the situation has been compounded by the latest increase in petroleum prices, leaving the union with little room to maintain the current fares.

“Going forward, there is nothing we can do than to come out officially by increasing the fares for our drivers to also continue doing their business,” he said.

Mr Amoah said the union will first assess the latest fuel price changes at the pumps before its leadership takes a final decision on the new fares.

“The leadership will also meet to take their decision, whether we are still going by the 30%, if it will come down to 20% or whatever.

I strongly believe by the close of this week, by the end of this week, something will come out for our drivers and then our passengers to also comply with,” he added.

Mr Amoah also explained that the pressure on transport fares is not solely attributable to fuel prices, pointing to the rising cost of spare parts, lubricants and taxes.