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Do you know that pinging either a Cisco router or switch often isn't an accurate test of latency? The reason being, both devices treat dealing with pings requests, to themselves, as a low priority item. Some Cisco devices support a speical responder that will allow for much more precise latency tests, but your source source would need to know to use it, and the receiver would also need to be configured to use it.
Assuming that the foregoing isn't the issue, you might look for congested interfaces. Such will queue packets including ping requests/replies, and for those, or other packets, latency will increase due to queuing delay.
