Transport fares will from today, December 19, 2020, be reduced by 15.3%

The reduction follows a decrease in fuel prices at several pumps in the country.

The 15.3% reduction was determined after consultations with important stakeholders, according to a press statement from the union leader.

“Following the negotiations and in consideration with the plight of drivers, commuters and the general public, we have resolved to reduce the existing transport fares by 15.3% With the recent reductions in the prices of petroleum products, it became necessary to engage stakeholders to give consideration to a review of the fares in line with the Administrative Instrument. Consequently, a series of negotiation meetings were held with the stakeholders to agree on an acceptable level of fare reduction commensurate with the current fuel prices,” portions of the statement from the transport operators said.

In recent times oil marketing companies (OMCs) have begun lowering the cost of gasoline at the pump.

The price of gasoline has dropped more than two dollars to $13.40 a litre, according to market leader GOIL.

Additionally, the price of diesel has decreased from 18.86 to 16.10 per litre.

Additionally, fuel is available from TotalEnergies for 13.40 pence per litre, while diesel costs 15.85 pence per litre.