Barring any last minute change, petrol prices should be decreased by 20 per cent soon.

That however would depend on how fast the National Petroleum Authority (NPA) responds to a government directive which is supposed to be contained in a communiqué signed between the Trades Union Congress (TUC) and Employment & Social Welfare Minister, E.T Mensah, on behalf of government.

The agreement to reduce fuel prices was reached last Friday following a series of meetings between the labour organization and government.

The TUC had threatened a nationwide demonstration this week after it indicated its disappointment in what appeared to be government’s reluctance to reduce fuel prices after a hike prompted by the removal of subsidies in early January.

Vice President John Mahama was at Friday’s meeting with the TUC and his spokesperson, John Jinapor told Joy News an acceptable position by both sides would formally be announced on Monday.

“…I can assure you the decision would be in the interest of both sides and I believe that both sides will work together to towards ensuring that we implement the decision taken.”