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Business News of Friday, 24 June 2022

    

Source: ghanaiantimes.com.gh

Car owners abandon vehicle for trotro over fuel price hike

File Photo: A bus station File Photo: A bus station

The continuous increase in transport fares has resulted in people parking their cars at home and joining public transport, while others walk short distances to cut costs.

The recent 15 percent increment in fuel prices projected at GH¢1.24 per litre has portrayed a high cost of living resulting in an increase in economic hardships of citizens in the country.

Interactions by the Ghanaian times on Monday with a section of the public revealed some difficulties and challenges they faced due to the hikes in prices.

Speaking to Bright Tinbu, he said the increase in fuel prices affected him badly, as he had to park his vehicle at home.

“I spend more money daily, buying fuel than I budget for my weekly expenditure, earlier I could buy fuel for about GH¢5 but now it is GH¢12, this has compelled me to park my car at home to use public transport,” he said.

Patience Moferi alluded to the fact that the increase in fares and goods was a worry to many individuals.

“Personally I don’t use my car again, fuel prices are high, though I use less of public transportation it is better rather it is affecting my business since the increase in fuel and everything,” she said.

Rosemary Ankrah stated that she had to cut down on her budget for food and other stuff because the standard of living was difficult as things were expensive.

Benjamin Nkrumah opined that with the structure of the Ghanaian economy, any marginal increase in transport fares affects everything in the country.