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The Government of Sierra Leone through the Petroleum Regulatory Agency (PRA) and other key partners has increased the pump price of fuel from Le20 to Le21, effectively today, Wednesday 16 November 2022.
The increment came as a result of the increase in price of the product in the global market in the last couple of weeks and the depreciation of the Leone against the Dollar.
PRA stated in the release that, “During the period under review, the International oil reference prices (Plats) increased invariably though at a declining rate, however, the stronger USD/SLL has hiked the pump prices for Diesel and Kerosene. Diesel is still cross subsidized at the retail market.
PRA added that, “The policy of full pass-through prices shall remain applicable to all commercial up-lifters with full settlement in US Dollars.”
The increment of petroleum pump prices will also affect transportation fare, which will eventually lead to hike in prices of basic commodities in the market as well.
