The reduction came after nearly two weeks of fuel price increases driven by volatility in global crude oil prices. However, stakeholders said in spite of the reductions, the lower petrol prices had yet to translate into lower transport fares, food prices and the general cost of living. Okere further said that only a fraction of transport operators had benefited from government-backed Compressed Natural Gas (CNG) initiatives. According to him, savings from lower fuel prices should translate into tangible economic gains through reduced transportation costs, improved infrastructure and enhanced public welfare. Ilias said regulatory oversight would promote fair competition and ensure consumers benefited from lower fuel prices without unnecessary delays.