Boat operators in Nanumba South in the Northern Region have adjusted transport fares due to the hike in fuel prices.

0

Interacting with Ciitnews, they say the continuous increase in fuel prices is affecting their business.

1

“We are very busy on market days. We are always on the river to ferry passengers across. We have increased the fares because of the high cost of fuel prices.”

2

One of the canoe operators, Akwesi Jonas, who interacted with the media said an individual is charged GH4, but an additional person brings the cost to GH5.

3

Consumers have noted that the increase in fares is affecting their daily spending. According to them, they are currently paying almost double of what they used to pay.

4

One Tilechi Ebenezer revealed a GH3 increase in fares following the price adjustment.

5

"When we came at first, it was GH4, but now it is GH7. This is a problem for us.”

6

Meanwhile, fuel prices are likely to go up in the coming days following a surge in prices of finished petroleum products and crude on the international market.

7

In separate analysis of the May 2022 First Pricing Window (May 1 to May 15, 2022), the Chamber of Petroleum Consumers (COPEC) and the Institute for Energy Security (IES) predicted that prices of petrol, diesel and Liquefied Petroleum Gas (LPG) would record a marginal increase on the local market this week.

8

Petrol is currently selling at an average GHS9.41 per litre, while diesel is pegged at GHS11.12 per litre an increase of 7.34 per cent from the previous average price of GHS 10.36 per litre.

9

In its projections for the May 2022 Second Pricing Window (May 16 to May 31, 2022), COPEC projected that the prices of petrol would go up by 4.74 per cent to settle at GHS9.990 per litre whereas diesel would record a 1.08 per cent gain to settle at GHS11.35 per litre.

10

The Chamber also projected that the price of LPG would also go up by 3.76 per cent to sell at GHS10.473/kg.

11

Source: The Independent Ghana

12