January 10, 2022
By: Hafsatu Z Bangura
Following the artificial scarcity and subsequent hoarding of fuel products by some dealers during the festive season, the Petroleum Regulatory Agency, has suspended the operational license of such defaulters.
In a press release on the 4th January 2022 the agency noted that there was artificial shortage of Petroleum products in the country in the festive season despite the country been sufficiently stocked.
Preliminary investigations indicate that a number of dealers deliberately held back sales to end-users in anticipation of a price increase.
The press release stated that this practice is tantamount to hoarding and is an offense under Part Vll, No 72 (2b) and Part Vlll No 68 of the statutory instruments of 2016.
The release listed the immediate suspension of the following fuel station
Mohamed kamalobee Koroma Enterprise, Lower Allentown, NP Campbell street, Freetown, Total Fenesu gas station, Fenton road Bo, Malinda Enterprise, and Ibrahim Saccoh gas station No. 2 kenema, Highway, Bo.
The release furthermore warns all oil marketing companies and dealers that are found deliberately holding back sales of Petroleum products will be deemed to have involved in hoarding and that the Petroleum Regulatory Agency will not hesitate to permanently revoke the licenses of companies or dealers found or engaged in the breach of the above mentioned provisions.
The Agency also assures the public that the price of fuel is 10,000.