Sierra Leone Government Increases Prices of Petroleum Products

The Sierra Leonean Government, in conjunction with the Petroleum Regulatory Agency (PRA), the Ministry of Finance, the Ministry of Trade and Industry, and companies in the oil marketing sector, have jointly agreed to adjust the pricing of petroleum products within the nation. This adjustment will involve a shift from Nle 25 to NLe 30 per liter.

"Throughout the assessed duration, the global reference prices for oil (referred to as Plats) exhibited a consistent rise, albeit at a diminishing pace. However, the amplified strength of USD/SLL has led to an increase in the costs of Diesel and Kerosene at the fuel stations. Diesel continues to receive retail market cross-subsidies."

These revised fuel prices are set to be implemented from today, August 29th, 2023. The Petroleum Regulatory Agency (PRA) disseminated this declaration via an official press release on the same day.