By Francis H. Murray
The Government of Sierra Leone has announced a reduction in the pump prices of petroleum products, following the recent fall in prices of same at the world market.
The Petroleum Regulatory Agency (PRA) in a public notice on Wednesday stated that price for fuel is now Le7000 per liter, representing a Le1, 500 reduction from the previous price.
‘‘Following recent developments in the international market of petroleum products, the Petroleum Regulatory Agency, Ministry of Finance, Ministry of Trade and Industry and Oil Marketing Companies (OMCs), have jointly reviewed the pump prices of petroleum products to reflect the movements in the platts and foreign exchange rates,’’ the notice states.
Brima Baluwa Koroma, Chairman of the Petroleum Regulatory Agency, told Politico that the decrease is part of government’s effort to cushion the economic and social difficulties on Sierra Leoneans amidst the outbreak of the Coronavirus disease.
‘‘Our policy with regards Petroleum produces in Sierra Leone is contingent on the international market price, so it’s designed to be reviewed at the end of each month in order to follow international best practices. As the world price changes, we adjust to ensure that Sierra Leoneans are given the best of service,’’ Koroma said.
This is the second time the government has reduced the pump prices of fuel in the space of a month. Last month the government announced a reduction of pump prices from Le 9000 to Le 8,500.
Shortly after the announcement, the Ministry of Transport also reviewed transportation prices. Transportation fare from different points were also reduced dropped from Le 1,500 to Le 1,200. In distances where passengers are expected to pay Le 2,500 they will now pay Le 2,000.
This latest announcement by the transport ministry was preceded by the ordering the reduction of passengers in commercial transportation.
Chairman for the Sierra Leone Motto Drivers and General Transport Union Alpha Amadu Bah told Politico that they were happy with the new prices especially at a time the passengers of vehicles are reduced.
‘‘We will ensure that our drivers follow the new transports fares to the letter because these measures are geared towards fighting COVID-19 and this involves the safety and security of all,’’ Bah noted .
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