Sierra Leone's Petroleum Regulatory Agency Announces New Fuel Prices for September 2024

September 3, 2024

The Petroleum Regulatory Agency (PRA) of Sierra Leone has announced the updated retail prices for petroleum products for September 2024. Effective from Monday, September 2, 2024, these prices reflect recent economic factors, including the stable performance of the Leone against the U.S. dollar and changes in global petroleum import costs.

The agency noted that the Leone maintained stability throughout August, leading to an exchange rate of NLe23.38 per USD for this month’s fuel pricing. Additionally, the average landed costs for imported petroleum products have decreased. Petrol is now priced at USD820.03 per metric ton, diesel at USD919.27, kerosene at USD942.94, and fuel oil at USD675.91 per metric ton. These figures show a reduction compared to the previous month.

The PRA has also introduced a debt recovery fund for diesel, adding NLe0.24 per liter, and revised the price correction levy for petrol to NLe0.36 per liter. This ensures that the new pump prices align with global market trends and local regulatory policies.

The approved retail pump prices for September 2024 are as follows:

- Petrol: NLe28 per liter

- Diesel: NLe28 per liter

- Kerosene: NLe26.24 per liter

- Fuel Oil: NLe26.04 per liter

These prices will remain in place until further adjustments are made. The PRA has reiterated its commitment to fair and transparent pricing for petroleum products in Sierra Leone, aiming to protect the interests of consumers and investors alike.