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COPEC tasks BoG to work to reduce cedi depreciation

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The Executive Secretary of the Chamber of Petroleum Consumers-Ghana (COPEC) Duncan Amoah has urged the Bank of Ghana and its Monetary Policy Committee to be up and doing in controlling the fast depreciating of the national currency, to avoid the needless fuel price increases across pumps within the country.

Explaining further to GBC’s Radio Ghana, Mr Amoah said the average pump prices have seen an increase of five pesewas for both petrol and diesel attributing it to the recent fast depreciation of the cedi from ¢5.53 to about ¢5.07.

This, he believes, if unchecked will certainly see prices going up again and even higher in the second window of this month.

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