Africa-Press – Sierra-Leone. The Native Consortium & Research Center is mounting pressure on the Petroleum Regulatory Agency (PRA) to significantly reduce the pump price of fuel, proposing a new rate of NLe 24 per liter.
The advocacy group issued a press statement today, highlighting a substantial 15% plunge in global oil prices throughout April, fueled by ongoing international economic dynamics.
The Consortium further pointed to the continued downward trend in May, noting that crude oil prices have now dipped to $58.34 per barrel – a level not seen since the early stages of the Russia-Ukraine war.
Based on these global shifts, the Native Consortium argues that the PRA should implement a fuel price reduction to at least NLe 24.5 per liter, if not a more proportional decrease mirroring the international market.
Their demands extend beyond the pump, with a direct appeal to the Ministry of Transport. The Consortium is urging the Ministry to ensure that any price reduction mandated by the PRA is directly passed on to commercial transport operators. This includes a wide range of services vital to the daily lives of Sierra Leoneans, such as “Keke” tricycles, “WakaFine Bus” services, “Poda-Poda” minibuses, provincial transport networks, and “Okada” motorcycle taxis.
The Consortium emphasized the critical importance of this measure in providing much-needed relief to consumers, a cause they have championed for over two decades.
Adding further weight to their argument, the statement also highlighted the recent positive performance of the Leone against the US dollar, suggesting this strengthening currency provides an additional economic basis for reducing fuel costs.
It is worth noting that fuel prices in Sierra Leone have remained at NLe 27.30 per liter since November 2024. This price point was established following an announcement by the PRA in November of that year, which saw reductions in kerosene and fuel oil prices while maintaining the rates for petrol and diesel.
At the time, the PRA cited fluctuations in the global oil market during October as the primary driver for their adjustments, noting an “under-recovery” for petrol and diesel.
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