Commercial transport operators will reduce their fares by 15.3% today (Monday, December 19).
This follows a directive by the leadership of the Union.
The directive is due to the recent downward trend of petroleum prices.
In a press release issued by the Union head, the percentage of reduction was agreed upon following engagements with key stakeholders.
“Following the negotiations and in consideration with the plight of drivers, commuters and the general public, we have resolved to reduce the existing transport fares by 15.3%,” the statement added.
“With the recent reductions in the prices of petroleum products, it became necessary to engage stakeholders to give consideration to a review of the fares in line with the Administrative Instrument.
“Consequently, a series of negotiation meetings were held with the stakeholders to agree on an acceptable level of fare reduction commensurate with the current fuel prices,” portions of the statement from the transport operators said.
Drivers and commuters have been advised to ensure the smooth implementation of the reduction.
Recently, the prices of petroleum products have been falling and it is even expected to fall further.
Major Oil Marketing Companies (OMCs) in the country have started reducing the prices of petroleum products at the pumps.
Market leader GOIL has reduced the price of petrol to ¢13.40 per litre, representing more than ¢2 drop from its previous price.
Diesel is also going for ¢16.10 per litre from the previous ¢18.86.
TotalEnergies is also selling petrol for ¢13.40 per litre, while diesel is going for ¢15.85 per litre.