Sierra Leone’s government through the Petroleum Regulatory Agency  has announced new fuel prices for September 2024, reducing from NLe 28.50 to NLe 28

The Petroleum Regulatory Agency (PRA) of Sierra Leone has released the maximum retail prices of petroleum products for September 2024. These prices, effective from Monday, September 2, 2024, reflect both the stable performance of the Leone against the U.S. dollar and fluctuations in global petroleum import costs.

According to the press release, the Leone performed strongly throughout August and remained stable relative to the U.S. dollar. As a result, the applicable exchange rate for fuel pricing this month is set at NLe23.38 per USD.

The average landed cost for imported petroleum products witnessed a reduction across the board. Petrol now averages USD820.03 per metric ton, diesel USD919.27, kerosene USD942.94, and fuel oil USD675.91 per metric ton. These figures represent significant decreases from the previous month’s averages, which saw petrol at USD984.26, diesel at USD975.80, kerosene at USD1,009.79, and fuel oil at USD680.44.

The PRA has also factored in a debt recovery fund for diesel amounting to NLe0.24 per liter. Additionally, a price correction levy for petrol has been revised to NLe0.36 per liter, ensuring that the adjusted pump prices align with global trends and local regulatory policies.

The new approved retail pump prices for September 2024 are as follows:

Petrol: NLe28 per liter
Diesel: NLe28 per liter
Kerosene: NLe26.24 per liter
Fuel Oil: NLe26.04 per liter

These prices will remain in effect until further adjustments are made by the PRA.

In the press release, the PRA emphasized its commitment to maintaining a fair and transparent pricing regime for petroleum products in Sierra Leone. The agency reiterated its dedication to protecting the interests of both consumers and investors in the downstream petroleum sector.

For more information and detailed price calculations, the public is encouraged to visit the PRA’s official website at www.pra.gov.sl.

This price adjustment comes amid global shifts in petroleum markets and ongoing efforts by Sierra Leone to ensure a stable supply of petroleum products at manageable prices for its citizens.