The Ghana Road Transport Coordinating Council (GRTCC) has stated that there would be no upward adjustment in road transport fares for the last quarter of the year.
A statement issued in Accra by the GRTCC said this was because the fuel factor in the running cost build-up was projected around GH¢4.2 (¢42,000) per 4.5 litres (one gallon) in the third quarter of the year.
It said at the end of July 2007, premium fuel was adjusted upwards to GH¢4.28 (¢42,800), but at the end of August the price of premium was adjusted downwards to GH¢4.1 (¢41,000 per gallon.
However, from the end of September 2007, the price of premium fuel would be GH¢4.21 (¢42,100) a gallon, whilst Diesel would also go up to GH¢4.07 (¢40,700) per gallon.
It said since the calculation of the running cost component of the fuel factor in road transport fare component was based on the premium price, the rise in the price of Diesel by 6.33 percent should not affect road transport fares.
The statement said the Council was looking at other components and would review the situation at the appropriate time.
Source: GNA
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