The Petroleum Regulatory Agency (PRA), the agency that is charged with the function of regulating pump prices in Sierra Leone, in collaboration with the Ministry of Finance, the Ministry of Trade and Industry, have announced an increment in fuel commodities.
The increment is from Le 23 for all fuel products to Le 25.
The key stakeholders highlighted, together with Oil Marketing Companies in the private sector cited the exchange rate and the hike in the international refined petroleum prices as the reason for this increment.
They cited that prices for fuel in the global market have hiked in excess of 20 percent since the last review.
Amidst the national hike, the government is still subsidizing to limit the level of financial burden this may have on Sierra Leoneans, the press release stated.