Govt insulted us with 15p reduction in fuel prices, prepare for 15% increment in transport fares-True Drivers

The True Drivers Union has served notice to increase transport fares by 15% despite the reduction in fuel prices announced by Finance Minister Ken Ofori-Atta.

Public Relations Officer Yaw Barimah says the reduction announced by the government was nothing but an insult and an attack on them.

Finance Minister Ken Ofori-Atta on Thursday announced that government will from April 1, 2022, reduce petroleum price build-up margins by ¢0.15 per litre.

According to Mr. Ofori Atta, the reduction is aimed at mitigating “the impact of the rising price of petroleum products at the pump, for the next three months.”

Per the details, BOST margin would be reduced by 2 pesewas per litre whereas the Unified Petroleum Pricing Fund (UPPF) margin reduced by 9 pesewas per litre.

Aside from that Fuel Marking Margin (FMM) reduced by 1 pesewa per litre.

Primary Distribution Margin (PDM) reduced by 3 pesewas per litre.

Mr. Ofori-Atta explained that fuel prices at the pump are largely influenced by rising crude oil prices on the international market and exchange rate depreciation hence the increase in petroleum products.

But Yaw Barimah says the government insulted them by the 15 pesewas reduction although, over the period, the increase in fuel prices have been more than Ghc10.

“Government has insulted us. The 15 pesewas reduction per litre in fuel prices is woefully inadequate. We are disappointed and feel insulted. The reduction will amount to nothing. Ghanaians should be prepared for a 15% increase in transport fares. We all have to sacrifice and pay for the increment in fuel prices. When the fuel prices go up, we will also increase our prices,” he added.


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