Following the recent upsurge in the global prices of petroleum products, the Petroleum Regulatory Agency Sierra Leone together with the Ministry of Finance, Trade and Industry, have reviewed retail pump prices from NLe19.5 to NLe21.5 effective yesterday 2nd February, 2023.

According to a press release from the Agency, the adjustment in the price is a result of the exchange rate of the U.S dollar to the leone and the hike in international refined petroleum products.

“Since the last review, oil prices have jumped by 15.04% and 9.89% for petrol and diesel respectively. However, as the government will not pass all the costs to the consumers, the price of diesel is still subsidized for the retail market,” the release states.

The agency also notified commercial up-lifters that the policy to pay in USD remains operational.