Freetown, Sierra Leone – 2nd September 2024 – The Petroleum Regulatory Agency (PRA) of Sierra Leone has released the maximum retail prices of petroleum products for the month of September 2024. These prices, carefully calculated and collated, reflect the cost of fuel imports and the performance of the Leone against the US Dollar during August 2024.
According to the PRA, the Leone showed a strong and stable performance, maintaining parity with the US Dollar at an exchange rate of NLe23.38/USD. This stability was a crucial factor in determining the new fuel prices for the month.
During the review period, the average landed cost for imported petroleum products saw a decrease. Petrol now stands at USD920.03 per metric ton, diesel at USD919.27, kerosene at USD942.94, and fuel oil at USD675.91. These figures represent a notable drop from previous averages, such as USD984.26 for petrol, USD975.80 for diesel, USD1,009.79 for kerosene, and USD680.44 for fuel oil.
Additionally, the PRA has instituted a debt recovery fund of NLe0.24 per litre on diesel. The price correction levy for petrol has also been adjusted to NLe0.36 per litre.
Effective from Monday, 2nd September 2024, the new retail prices per litre are as follows:
- Petrol: NLe 28.00
- Diesel: NLe 28.00
- Kerosene: NLe 26.24
- Fuel Oil: NLe 26.04
These prices will remain in effect until further notice. The PRA emphasizes its ongoing commitment to ensuring transparent pricing and safeguarding the interests of both consumers and investors within the downstream petroleum sector.
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