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The Executive Director of Native Consortium and Research Center, Edmond Abu Jr. has averred that Sierra Leone has the highest pump price of fuel in the Mano River Basin.
He explained that in a piece title: “Understanding the Computing and comparison of gas prices in liters and gallons between Sierra Leone, Liberia, Guinea and USA. The more reason why the PRA need to reduce the pump price to Le 18,000.”
Read the full piece below:
A lesson for the PRA & Trade Ministry
Gas price per liter in US Dollars ($) as at 1st July 2022 ranked from the Country with the highest to the lowest Prices
Sierra Leone $. 1.58
Guinea $ 1.34
Liberia $ 1.31
USA. $ 1. 27
First of all Understanding the Measurement in liters and gallonage
a) Prices in Liters & Gallons
(b) Second of all, we must compute the prices for a gallon and a liter, then we convert the prices in US Dollars for better comparison so we know the price in Liberia, Guinea, Sierra Leone and US all things being equal
USA, like in Liberia, is using the imperial gallonage system 4.5 liters = 1 Gallon (4 and half liters) and not the 3.8 liters as opined by the PRA.
For UK, Sierra Leone and Guinea we use the metric system where 1 Gallon = 4.5466 (infinitestima) liters according to the UK standard.
1000 liters = 1 Metric ton
So for generally accepted standard of measurement 4.5 liters= 1 gallon
How much is the gas price in Sierra Leone in Le & $?
Since the Russian invasion started in Ukraine in March this year, Sierra Leone has changed prices 4 times upwards by 120% from Le 10,000 to Le 22,000 per liter making Sierra Leone the highest pump price in the sub region.
So if 1 liter used to cost Le 18,000 equivalent to $ 1.3
$ 1.31 = Le 18,000 per liter ÷ Le 13,750
1 gallon in Leone cost Le 81,000
Le 81,000= Le 18,000 × 4.5 liters
Le 81,000 equivalent to $ 5.89
($ 5.89= Le 81,000 ÷ Le 13,750)
Where the average exchange rate then was $ 1 = Le 13,750
New price Le 22,000 per liter equivalent to $ 1.58
Conservatively, the new average exchange rate is:
$ 1 = Le13,850
1 gallon should cost Le 99,000
(Le 22,000 × 4.5 liters)
1 gallon in USD should cost $7.11
1 liter in USD should cost $ 1.58
Where $ 1.58 = $ 7.11÷ 4.5 liters
Gas price in Liberia
Price of gas in Liberia has been fluctuating but has not changed materially since the Russian invasion started. The 1 gallon is sold for LB 890 to LB 900
Average Price per gallon is LB 890
The currency of Liberia is called the Liberian Dollar (LB) which is a surrogate currency to the USD.
$ 1= LB 150
Therefore:
1 Gallon in US Dollars= $5.93
$ 5.93 =LB 890÷ LB150
1 liter in Liberia cost = $ 1.31
Where $ 1.31= $ 5.93 ÷ 4.5 liters
Price of gas in Guinea
Since the invasion of Russian, Guinea has change the price change only once from CFA 10,000 to CFA 12,000
1 liter cost CFA 12,000
Exchange rate in Guinea
$ 1= CFA 8,900
If you want to buy 1 liter of gas using Sierra Leone Leones anywhere within Guinea, it costs about Le 18,000 in Sierra Leone currency
Therefor I liter in US Dollars should cost $ 1.34
($ 1.34 = CFA 12,000 ÷ CFA 8,900)
Regular gas price in USA
Before the Russian invasion, the average price of gas per gallon was $ 2.9 because gas prices varies from coast to coast and state to state. Gas price has increase in the US by 120% just as in Sierra Leone since the invasion.
As at 1st July 2022
The east coast prices like in a New Jersey the cheapest can be $ 4.95.
In the west coast states like California it can be as high as $ 6.50 per gallon.
Therefore, the average price of gas per gallon can be the highest plus the lowest divided by 2.
Therefor 1 gallon should cost ($ 6.50 + $ 4.95) ÷2 = *$ 5.72 per gallon
Therefore, gas price per liter in the US should be 5.72 ÷ 4.5 liters= $1.27
Conclusion
Sierra Leone has the highest pump price of fuel in the Mano River a Basin.
END
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