By: Ilyasa Baa
Native Consortium and Research Centre has called on the Petroleum Regulatory Agency (PRA) and the Ministry of Trade and Industry to drop the price of fuel from LE 22 to LE 18 since the price of a barrel has been reduced below one hundred Dollars in the world market.
According to the Consortium’s Press Release, issued on 6th July, 2022, the current pump price is disproportionate noting that Sierra Leone is the only country that has increased price by 120% ever since the Russian invasion of Ukraine.
The Executive Director, Edmund Abu Jr. had warned PRA and the Ministry that the Oil Marketing Companies (OMCs) has been trying to take the country hostage and destabilize the country like they tried to do recently.
He has recommended that the price be reduced and fuel oil, kerosene, diesel and petrol should not be sold at the same price bearing in mind that they do not serve the same purpose. The release further recommended that the Central Bank should take the forex the mining companies are paying for their stock of petroleum products to the OMCs to ease the pressure for importation.
In conclusion, the Consortium expressed that Sierra Leoneans have no guarantee that the oil marketers will display patriotism and stop the artificial scarcity in a country where price has changed in four months from LE 8,000 to 10,000 to 12,000 to 15,000 to 18,000 and now to 22,000.
