Keta: Residents of Keta in the Volta Region have expressed mixed reactions to a fresh increase in fuel prices, which took effect on September 1, with many fearing its likely impact on transport fares and the cost of living.
According to Ghana News Agency, projections by the Chamber of Petroleum Consumers (COPEC) Ghana indicated that petrol prices were expected to rise to about GHS16.21 per litre, representing an increase of about five percent from the previous average price of GHS15.43 per litre.
The Chamber of Oil Marketing Companies (COMAC) projected that petrol prices would increase by about 4.8 percent and diesel by 2.1 percent, with petrol expected to sell at about GHS16.39 per litre and diesel at GHS17.60 per litre. Mr. Raphael Gemegah, a resident of Keta, expressed concerns that the latest fuel price hike could lead to an increase in transport fares, adding pressure on household budgets already affected by the rising cost of living.
A group of commercial drivers in the municipality also voiced dissatisfaction with the persistent increase in fuel prices and urged the Government to introduce measures to support transport operators and commuters. Mr. Gemegah, who is also a commercial driver, stated that operators were awaiting directives from their union leadership on any possible fare adjustment and would not take unilateral action until the Ghana Private Road Transport Union (GPRTU) and other transport unions assessed the actual pump prices.
He highlighted that the prices of spare parts had risen significantly in recent months and feared that the latest fuel increase would further worsen the operating conditions of drivers and vehicle owners. The GPRTU has previously indicated that drivers are facing rising costs beyond fuel, including spare parts, lubricants, taxes, insurance, and other vehicle-related charges, and will assess actual pump prices before deciding whether to review fares.
Mr. Gemegah recalled that the GPRTU had earlier suspended a planned fare increase following Government intervention on diesel prices and was expected to assess prevailing pump prices before making a decision on fares. He also noted that some Oil Marketing Companies (OMCs) had already begun adjusting prices under the new pricing window.
He cited Star Oil as maintaining its petrol price at GHS14.97 per litre while increasing diesel from GHS16.47 to GHS16.97 per litre, adding that other OMCs were monitoring market developments before reviewing their prices. The GNA gathered that some industry analysts attributed the increases largely to developments on the international market, including a rise in average crude oil prices from US$90.53 to US$92.11 per barrel.
They mentioned that geopolitical tensions and uncertainty surrounding oil shipments through the Strait of Hormuz had contributed to the upward pressure on global oil prices. The increase comes despite the recent appreciation of the Ghana cedi against the US dollar, a development many consumers had expected to help moderate fuel prices.
As uncertainty remains over the actual pump prices to be charged by individual OMCs and the eventual response of transport unions, residents have appealed to the Government to extend relief measures to mitigate the impact on consumers. They warned that failure to implement timely interventions could deepen the economic hardship already being experienced by many households in the municipality.