Following continuous reduction in prices of petroleum products in recent weeks, transport operators have agreed to review fares downwards effective Wednesday, May 17, 2023.

The decision was announced in a statement released by the Road Transport Operators on Monday, May 15.

In a statement jointly signed by the General Secretary of the Ghana Road Transport Coordinating Council, Emmanuel Ohene Yeboah, and Godfred Adulbire, General Secretary of the Ghana Private Road Transport Union (GPRTU), the operators said the decision is in line with “Administrative Arrangement on Public Transport Fares, to accommodate for reductions in prices of petroleum products observed over the period.”

The new fares will affect shared taxis, intra-city (trotro), intercity (long distance buses) and haulage vehicles.

The statement further advised commercial transport operators to comply with the new fares and post same at their loading terminals.

“We further request all operators, commuters and the general public to kindly cooperate for the successful implementation of the new fares.”

Prior to this reduction, transport fares had seen several increases in line with the rising cost of fuel at the time.

This new development comes at a time that industry watchers have predicted a further reduction in the prices of petroleum products from Tuesday, May 16, 2023.