According to COPEC, this is due to the decrease in international benchmark pricing of petroleum products on the international market.

Speaking to Citi News, Executive Secretary for COPEC, Duncan Amoah indicated that various Oil Marketing Companies which quoted higher prices for diesel for instance in the second pricing window in April will reduce it to correspond with petrol prices.

He further advocated for attention to be given to stabilising the local currency by the government to sustain reduction at various pump outlets in the month of May.

“The world market benchmark is declining, so if we focus our attention more on stabilising the local currency, the cedi, it is expected that we will be able to sustain reduction at the pumps.”