Fuel Price Increase: Transport Economics Is Stuck Against Transport Operators - Nana Akomea

Managing Director of STC, Nana Akomea, has expressed worries over the increases in price of petroleum products.

According to him, the odds are against vehicle drivers and transport operators.

''The economics of transport is stuck against the transport operators for a very simple reason. Transport fares are controlled but the input that go into transport like fuel are not controlled. Spare parts, there's no control. Oil - engine oil, gear oil - all the oil, there's no control," he said while discussing fuel-related issues on Peace FM's morning show ''Kokrokoo''.

He noted that fuel prices have gone up by 35 percent in one year as against transport fares which is down by 13 percent with 1 litre of petrol shooting from Ghc 4.77 last year to Ghc 6.55 this year.

''In the last one year, transport fares have gone up 13%; so your major direct cost has shot up 35% in one year from Ghc 4.77 to Ghc 6.50.''

His comments come on the heels of reports that there's going to be another fuel price increment.