Vehicle owners and transport operators are likely to see a reduction in the prices of spare parts in the coming days as the Abossey Okai Spare Parts Dealers Association in the Greater Accra Region has instructed members to slash prices.
The association instructed its dealers to take this action following significant gains by the cedi in relation to other major international currencies, especially the dollar.
This action is likely to bring relief to consumers, with the expectation of a reduction in transport fares, as the majority of the parameters that determine the cost of goods and services continue to decline.
This has been possible due to geopolitical events in the last few weeks weakening the dollar and significant strides by the Mahama government to stabilise the local currency.
