The Petroleum Regulatory Agency (PRA) has issued a statement addressing concerns about fuel availability and pricing in Sierra Leone.

This follows recent reports suggesting a potential fuel crisis, with some stations running dry and limited suppliers.

On Friday, Sierraloaded reported long queues at gas stations in Freetown and other districts, with many stations entirely closed. This scarcity led to a temporary rise in transportation costs as drivers with access to fuel exploited the situation.

In a statement released Sunday, the PRA acknowledged reports of fuel retailers withholding existing stock to create a shortage and inflate prices.

The agency stressed there’s no need for panic, assuring the public that over 2.2 million liters of petrol are readily available nationwide, with diesel supplies lasting comfortably until mid-July. Additionally, a significant shipment of 20 million liters of petrol is expected to arrive on May 8th.

The statement confirmed that currently, only NP SL and Leon Oil have reserve petrol stocks. However, the PRA emphasizes that these reserves, combined with the upcoming shipment, are sufficient to meet demand until the next major delivery.

The PRA issued a stern warning against fuel hoarding, highlighting that any dealers caught manipulating supply to inflate prices will face severe repercussions, including the revocation of their licenses.

Consumers can expect fuel prices to remain stable throughout May, with the current price per liter of NLe30 holding firm. The PRA said it is currently implementing reforms to optimize operations within licensed storage companies, ensuring they prioritize public needs.

The agency added that it remains committed to guaranteeing fair and efficient fuel distribution throughout Sierra Leone and will take strict action against any practices that negatively impact consumers.