President of Ghana Online Drivers Union, Francis Tenge, has said in the face of high fuel prices, transport fares of ride-hailing services must be reviewed upwards.

According to him, riders must be charged GH¢20 for short-distance trips.

He further stated that GH¢15 might be considered as the minimum charge for short trips and not GH¢12 as is currently charged by ride-hailing companies.

Speaking in an exclusive interview with GhanaWeb business, Mr Tenge said, the upward review of fares was to cushion drivers amidst the hikes in fuel prices and economic crisis at large.

"The truth is, ride-hailing companies adjusted the fares a little to GH¢12. It was increased from GH¢10 to GH¢12 but with this increment as compared to cost of inflation in terms of the fuel pricing, it is actually not helpful because it is too small. So as to us surviving in this market, short distance trips should be GH¢20 and not GH¢12," he told GhanaWeb's Ernestina Serwaa Asante.

"At least GH¢15 is okay because we can’t also put much pressure on the riders as well so it’s a win-win for everybody. Anything below GH¢15 is not helpful to anybody," he added.

The price of diesel shot up to GH¢23.49 per litre with petrol selling at GH¢17.99 per litre.

Kerosene is also selling at GH¢14.70.

The new prices took effect Tuesday, November 1, 2022.

Meanwhile, the Institute for Energy Security (IES) has predicted that petrol and diesel prices will hit GH¢18 and GH¢20 per litre for the November 2022 first pricing window.

ESA/WA

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