• Metascholar News Portal
• Economy , Local News
• May 20, 2025
• 2299 views
• 3 minutes Read

Passengers to Enjoy 15% Reduction in Transport Fares from May 24

Ghanaians can expect some relief in commuting costs as transport fares across the country are set to be reduced by 15%, starting Saturday, May 24, 2025. This decision follows successful negotiations between transport unions and the Ministry of Transport, amid favorable economic indicators that have prompted the need to review fare rates downward. The fare reduction, announced by the Ghana Private Road Transport Union (GPRTU), comes as part of efforts to align transport costs with current macroeconomic trends. One of the key contributing factors to this decision is the sustained appreciation of the Ghanaian cedi against the US dollar over recent months. This currency strength has led to a notable decline in the cost of fuel imports, subsequently bringing down fuel prices at the pumps nationwide. In addition to fuel price reductions, the Abossey Okai Spare Parts Dealers Association recently issued a directive to its members, urging them to reduce the prices of vehicle parts and accessories in response to the strengthening local currency. Although the reductions in spare parts and lubricant prices have not yet fully materialized, the overall economic outlook has prompted stakeholders in the transport sector to initiate cost relief measures for commuters. Confirming the development in an interview with Citi News, Mr. Abass Imoro, the Industrial Relations Officer of the GPRTU, emphasized that the fare reduction is a proactive and responsible step aimed at supporting the public during a time of economic recovery. “We have finally agreed to reduce lorry fares by 15%, but it will take effect from Saturday. Although spare parts sellers have promised to reduce some of their prices, that has not taken effect yet, and none of the lubricants which went up has been reduced currently, but we decided to peg the reduction at 15%,” he explained. Mr. Imoro noted that the decision also reflects the union’s commitment to collaborating with government and economic stakeholders to stabilize the cost of living. He added that while transport operators continue to face challenges such as high vehicle maintenance costs and spare part inflation, the broader responsibility to offer fair and affordable services to the commuting public remains a top priority. The Ministry of Transport has welcomed the fare reduction as a sign of constructive dialogue between government and industry players. Officials also indicated that ongoing engagements would ensure that any further economic improvements will be reflected in transport costs. As the new fare structure takes effect this weekend, both public and private transport…