Commuters are to expect a 15% drop in transport fares, effective Saturday, May 24.

This was made known by the Industrial Relations Officer of the Ghana Private Road Transport Union (GPRTU), Abass Imoro, while speaking to the media.“We have finally agreed to reduce lorry fares by 15%, but it will take effect from Saturday. Although currently spare parts sellers have promised to reduce some of their prices for now, which hasn’t taken effect, and none of the lubricants that went up have been reduced currently, but we decided to peg the reduction at 15%,” he added.

The reduction follows successful deliberations between the Ministry of Transport and transport operators.

Other factors include the recent macroeconomic developments, specifically the Ghanaian cedi experiencing sustained appreciation against the US dollar.

As of May 13, the Ghana cedi appreciated by 16.7% against the US dollar, making it the world’s best-performing currency so far this year.

However, Minister for Finance Dr. Cassiel Ato Forson, has cited stringent monetary policy, complemented by aggressive liquidity sterilization, and disciplined fiscal stance anchored around prudent public finance management."In fact, our foreign exchange reserves at the Bank of Ghana reached a record high in April 2025, surpassing targets set under the IMF-supported programme ahead of schedule," he added.

Bolstering these efforts, he said, included "enhanced foreign exchange inflows from gold, cocoa, and remittances, alongside a softening US dollar amid global uncertainties."

According to Forbes, the dollar has depreciated by 8% in 2025, whereas gold prices have hiked by 23%.

This has been reported as investors seek safe-haven assets.

They "have significantly driven the strength of the Ghana cedi," the sector minister confirmed.