COPEC to Engage Driver Unions Over Possible Transport Fare Reductions
Chamber says sharp drop in fuel prices must be reflected in fares despite other operating cost pressures
- COPEC plans to meet driver unions early next week to push for transport fare reductions
- The Chamber insists fuel prices, now averaging about GH¢11.50 per litre, remain a key factor in fare calculations
- COPEC argues commuters should benefit from improved market conditions just as they bear the impact of price hikes
The Chamber of Petroleum Consumers (COPEC) is set to open discussions with transport unions over a possible reduction in transport fares, following sustained declines in fuel prices across the country.
Executive Secretary of COPEC, Duncan Amoah, says although transport operators face rising costs in areas such as spare parts and lubricants, fuel remains a dominant factor in fare determination and must be reflected in pricing.
Speaking in an interview on Tuesday, January 6, Mr Amoah acknowledged the broader cost pressures confronting drivers but insisted that falling pump prices cannot be ignored when calculating transport fares. He stressed that fuel constitutes a critical component of transport cost structures.
To illustrate his point, he cited a year-on-year comparison, noting that fuel sold at nearly GH¢15 per litre in January 2025, while current average prices are around GH¢11.50 per litre. He described the difference as significant enough to warrant a review of fares in favour of passengers.
Mr Amoah revealed that COPEC will begin direct engagements with driver union executives early next week to push for fare adjustments aligned with current fuel prices.
The renewed call follows COPEC’s earlier appeal to commercial transport operators, including ride-hailing services such as Uber, Bolt and Yango, to revise fares after several oil marketing companies reduced ex-pump prices.
COPEC has attributed the fuel price reductions to lower international refined petroleum prices, relative stability of the cedi, and increased competition within Ghana’s deregulated downstream petroleum market. Its year-on-year analysis shows petrol and diesel prices have dropped by between GH¢3 and GH¢4 per litre since January 2025.
The Chamber maintains that consumers deserve relief when market conditions improve, just as they absorb higher costs during price hikes. It has praised oil marketing companies that have already adjusted prices downward and urged others to follow suit.
Transport fares were last cut by 15 percent in May last year after negotiations with the Ministry of Transport, driven by favourable economic indicators. COPEC believes current conditions once again justify a fare review to ease the burden on commuters.
