Transport fares in Ghana have been increased by 15%, effective February 1, 2016, stakeholders in the transport sector have announced.

The acting General Secretary of the Ghana Road Transport Coordinating Council (GRTCC), Andrews Kwesi Kwakye said the Unions were moderate in fixing the new fares.

The increment, he said, is as a result of the increase in the prices of petroleum products on January 4, 2016.

He said they took into consideration the “cost of spare parts and maintenance, licensing, levies, charges and tolls and the almighty fuel.”

“Though the first review for this half year began late, we have concluded our review and the transport operators have decided to raise fares by 15% from February 1, 2016,” Kwakye said at a press conference on Sunday.

According to him, “the increase is below the rate of inflation. Base on the analysis of the transport operators’ technical team, transport fares should have risen by 18 to 20%. The transport operators have made this decision with sensitivity to the call by our customers and organized labour for moderation in raising of prices of critical services.”

The latest increase of between 18 to 30 percent in the prices of petroleum products, was occasioned by the passage of the Energy Sector Levy (ESL) by Parliament in December last year.

A gallon of petrol now sells around Ghc15.40 pesewas with diesel going for Ghc14.50 pesewas. The price of LPG has also gone up by about 18 percent.