After weeks of speculation, prices of fuel have gone up in Sierra Leone.
Petrol is now sold Le8, 500 per liter, up from Le7, 000 per liter, representing a 15% increment, according to a statement from the government on Monday.
Diesel is also sold at Le8, 500, up from Le7, 500, while Kerosene is Le8, 500, up from Le7, 600, the statement adds. Fuel oil is now Le7,500 from Le6,500, it went on.
Officials of the Petroleum Regulatory Authority, which made the announcement, said it’s in response to factors prevalent in the international market.
The statement, which was jointly issued by relevant ministries and the oil marketing companies said the reviewed prices were decided to reflect recent movement in the “Platts and foreign exchange rates.”
The announcement followed weeks of speculation fuelled by intermittent shortages of petrol. Since last Friday queues began lengthening after one of the leading petroleum exporting companies expressed concerns over the rising cost of exporting the commodities.
The increment in prices of pump is expected to force an increase in transportation fees, which is in turn likely to impact cost of living and make an already difficult situation more complicated for most Sierra Leoneans.
A major concern among many Sierra Leoneans is the reaction of commercial vehicle owners who have already threatened to raise their charges.
But Mr Maywhether Thompson, Chief Director and Professional Head in the Ministry of Trade and Industry, said the government was planning to invite the Drivers’ Union for a meeting to discuss the way forward.
APA/abj/KC