The National Petroleum Regulatory Authority (NPRA) has announced that the Government of Sierra Leone's decision to reintroduce fuel subsidies has prevented a substantial increase in domestic fuel prices, providing relief to consumers despite continued volatility in global petroleum markets.
According to the Authority, international fuel prices continue to rise as a result of disruptions to major trade routes in the Middle East. These developments have affected global supply chains, increased uncertainty in oil transportation, and driven up marine insurance premiums and petroleum importation costs.
The NPRA explained that, without the Government's intervention through the subsidy programme, the retail pump price of petrol would have increased to NLe37.00 per litre, while diesel and kerosene would have reached NLe44.00 per litre and NLe44.30 per litre, respectively.
The Authority noted that the subsidy programme, which is projected to cost approximately US$2 million per month, has helped cushion consumers and businesses from the immediate impact of escalating international market prices while supporting price stability across the country.
The NPRA reaffirmed its commitment to continuously monitoring developments within the international petroleum market and implementing the petroleum pricing framework in a transparent and responsible manner. The Authority also reiterated its commitment to working closely with the Government and industry stakeholders to safeguard the security of fuel supply while protecting consumers from excessive market volatility.
As global energy markets remain uncertain, the NPRA will continue to provide timely information on pricing developments and measures being implemented to ensure the sustained availability of petroleum products throughout Sierra Leone.
