Transport fares go up 15%.

The transport fare increase follows the latest increase in fuel prices as a result of the partial implementation of the petroleum deregulation policy.

The Ghana Private Road Transport Union (GPRTU) and Road Transport Coordinating Council announced the increment after meeting the Transport Ministry last week.

Ben Kwasi Ansah, the National Trustee of the GPRTU, said the 15 percent increment was agreed upon after a long meeting with all the stakeholders.

He added the free fall of the cedi against other major currencies has also accounted for the increment.

“We took so many things into consideration, not only the fuel increase but you may recall that the last time we increased transport fares was last January and at that time the cedi to a dollar was two cedi to a dollar but now the cedi to a dollar is over four cedis.

“When the cedi is falling like this it affects everything including spare parts”, he stated.

The deregulation policy triggered a 4 percent upward adjustment in the price of fuel last week, the third of such fuel price increases since January this year.

Meanwhile, Employment and Labour Relations Minister Haruna Iddrisu says cabinet is reviewing existing law on petroleum product pricing to support a partial or full deregulation policy.

Some stakeholders in the petroleum sector have raised concerns about the absence of a legal regime to guide the implementation of the deregulation policy.