By Hassan Osman Kargbo
In a significant development, the National Petroleum (NP)- Sierra Leone Limited, and Texaco Gas Station have announced a substantial reduction in fuel prices, effective immediately. Petrol is now priced at Le25 per liter at both stations, while diesel costs Le24 at NP and Le23 at Texaco.
The price drop follows sustained advocacy from the Native Consortium, a group that has been actively campaigning for decreased fuel costs. Texaco’s management made the official announcement during a broadcast on Radio Bintumani 93.7 in Kabala, expressing their commitment to providing affordable fuel for consumers.
This move responds to public demand for lower prices, and both companies are working to ensure a smooth transition to the new pricing structure. The reduction is expected to bring relief to consumers and businesses alike, potentially boosting economic activity in the country.
New Fuel Prices:
– Petrol: Le25 per liter (NP and Texaco)
– Diesel: Le24 per liter (NP), Le23 per liter (Texaco)
It’s worth noting that the Petroleum Regulatory Agency (PRA) recently announced new fuel prices, effective June 30, 2024, which were Le28.50 for petrol and Le28.50 for diesel. However, the current prices announced by NP and Texaco are lower than these rates.
The price reduction is a welcome development for consumers, who have been struggling with high fuel costs. The advocacy efforts of the Native Consortium appear to have paid off, and it will be interesting to see if other fuel stations will follow suit.
In a related news, PRA has implemented a new pricing regime that aims to bring greater transparency, economic stability, and social equity to the country’s fuel market. The changes include using West African benchmarks to reflect importation realities specific to Sierra Leone and reducing “Other Charges” from USD13.6 to USD7.3 per metric ton.
