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The Chamber of Petroleum Consumers (COPEC) has announced plans to meet with transport unions to push for possible reductions in transport fares following recent drops in fuel prices.
The Executive Secretary of COPEC, Duncan Amoah, said fuel remains a key component in transport fare calculations and should be reflected in pricing, despite concerns from transport operators about the rising cost of spare parts, lubricants and other inputs.
Speaking on Channel One Newsroom on Tuesday, January 6, Mr Amoah acknowledged that drivers face broader cost pressures but stressed that fuel prices cannot be ignored when fares are being determined.
He explained that fuel constitutes a significant portion of operating costs and that any notable reduction at the pumps should logically influence fare adjustments. To support his argument, Mr Amoah cited a year-on-year comparison, noting that fuel prices in January 2025 were close to GH¢15 per litre, while current average prices are around GH¢11.50 per litre.
According to him, the decline represents a substantial reduction that should be factored into fare-setting discussions. He added that while other costs may not have fallen at the same rate, fuel remains one of the most decisive variables in transport pricing and offers room for relief to commuters.
Mr Amoah disclosed that COPEC plans to engage executives of driver unions early next week to discuss the issue and press for fare adjustments that reflect current fuel prices.
“That has been the conversation and the argument of the transport operators. What we however know is that in the computation of transport fare metrics, fuel prices play a critical role and cannot be ignored. A year ago in January 2025, fuel was selling at almost GH¢15 per litre, but today the average is about GH¢11.5,” he said.
He added that the discussions will focus on ensuring consumers benefit from improved market conditions, just as they bear the impact during periods of price increases.
The renewed call follows earlier appeals by COPEC for commercial transport operators, including ride-hailing services such as Bolt, Uber and Yango, to review their fares after several oil marketing companies reduced ex-pump prices.
COPEC has attributed the recent fuel price reductions to declining international refined petroleum prices, relative stability of the cedi, and increased competition within Ghana’s deregulated downstream petroleum market. Its year-on-year assessment shows that petrol and diesel prices have fallen by between GH¢3 and GH¢4 per litre compared with January 2025.
Transport fares were last reduced by 15 percent in May last year after negotiations between transport operators and the Ministry of Transport, following favourable macroeconomic conditions. COPEC believes the current environment once again justifies a review of fares to ease pressure on commuters.
