COPEC urges transport operators to reduce lorry fares

Duncan Amoah, the Executive Secretary of the Chamber of Petroleum Consumers (COPEC), has assured transport operators and ride-hailing firms that fare reductions can be carried out without an immediate risk of fuel prices increasing again.

COPEC has been urging commercial transport services, including platforms like Bolt, Uber, and Yango, to adjust their fares after the recent reductions in ex-pump fuel prices.

During an interview on Channel One Newsroom on Tuesday, January 6, monitored by Ghanatodayonline.com, Mr. Amoah addressed concerns regarding the sustainability of lower fares amid fluctuating fuel prices. He clarified that current market conditions offer a good opportunity for operators to pass on the advantages of lower fuel costs to passengers.

He observed that worldwide market signals stay positive, despite previous worries that events in Venezuela might increase global fuel prices. He claims that those fears have not come to fruition, as the market is now facing surplus supply.

Mr. Amoah disclosed that fuel storage facilities in Ghana are almost full, noting that an importer recently voiced concerns over the challenge of obtaining tank space because of the global supply surplus.

Source: Ghanatodayonline.com