Bussiness
Transport fares expected to go up by 10%
Transport fares are expected to go up by some 10% later this week if the unionised operators, Ghana Private Road Transport Union and the Ghana Road Transport Coordinating Council, are able to get the Transport Minister’s blessings on this margin of increase.
The operators and the Transport Minister, Kwaku Ofori Asiamah, are expected to meet at a crunch meeting this Wednesday, June 22nd, 2022.
However, at a meeting between the two bodies and the Transport Minister last Friday, June 17th, 2022, there was some agreement that the fares should be reviewed.
But a final agreement was not reached on the margin of increase of the petroleum products.
The meeting also agreed that the time has come for some taxes on fuel to be reviewed.
Prices of fuel on the local market increased over 4% on average terms in the just ended Pricing-window of June 15, 2022.
For the rest of June 2022, the Institute for Energy Security (IES) projected another sharp rise in the price of the various products on the back of the 0.86% depreciation of the cedi and the international market price increase of 14.81% for petrol and diesel
In nominal terms, it said petrol price will increase by about 10% to sell above ¢11per litre and diesel by about 15% to sell above ¢14 per litre.
Price of Liquified Petroleum Gas (LPG), however, was projected to fall further by 5% from its current price.
Meanwhile, market leader, GOIL, has increased the price of petroleum products at the pumps.
It went up over the weekend.
A litre of petrol is going for ¢10.99 which is in line with the current market condition.
However, diesel is going for ¢13.39 pesewas.
Source: Joy Business
Bussiness
Global Market Volatility: Gov’t absorb GH¢2.00 per litre on diesel and GH¢0.36 per litre on petrol
Effective Thursday, April 16, 2026, which is the next pricing window, the Government will absorb GH¢2.00 per litre on diesel and GH¢ 0.36 per litre on petrol.
This intervention is intended to cushion customers and ease the cost burden on households, transport operators, and businesses.
The measure, approved by Cabinet, is in response to rising prices of petroleum products on the international market, which have significantly impacted ex-pump prices in Ghana.
This temporary intervention will remain in force for a period of one (1) month.
During this period government will continue to closely monitor developments in the global oil market and assess the need for further policy adjustments.
A statement signed by Minister of Government Communications, Felix Ofosu Kwakye noted that they remain commited to maintaining price stability, protecting livelihoods, and supporting Ghana’s economic recovery in the face of external shocks.
Ghana’s gold and minerals sector is set for a major spotlight as Meetings. Co, in partnership with key industry stakeholders, announces the Mining & Minerals Convention 2025, scheduled from August 26-27, 2025, at the Kempinski Hotel Gold Coast City, Accra.
Held under the theme “Shaping the Future of Ghana’s Gold Industry,”‘ the Convention will convene government leaders, regulators, miners, refiners, investors, sustainability partners, innovators, and responsible mining, and global competitiveness,policy experts to explore strategies that position Ghana’s gold industry for long-term growth.
The two-day convention will feature presidential and ministerial keynote addresses, industry thought leadership, technical paper presentations, policy dialogues, fireside chats, exhibitions, and high-level networking sessions.
Convention delegates can anticipate a dynamic and insightful experience, marked by thought leadership from leading policymakers and regulators, in-depth discussions on key topics such as sustainability, ESG, digital gold, and responsible sourcing, as well as valuable opportunities to forge public-private partnerships and investment deals.
Moreover, the event will offer practical action points aimed at unlocking greater economic value for Ghana.
The 2025 edition will be supported by a strong coalition of strategic partners, including the Ministry of Lands and Natural Resources, the Minerals Commission, GoldBod, the Minerals Income and Investment Fund (MIIF), and the Ghana Extractive Industries Transparency Initiative (GHEITI).
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