By Amin Kef Sesay
Pump price for petroleum products has gone up as effective from the 1st March 2022, the price of a liter of petrol or diesel will be Le 12,000, up from Le 10,000. In a Press Release issued by the Petroleum Regulatory Agency (PRA) it was indicated that Sierra Leone continues to review its pump prices on a monthly basis driven by International factors.
Those international factors, it was stated, include refined products at a predetermined price set at Global Markets level including cost of importation, shipping costs and premium.
Pointing out key factors affecting fuel prices adjustments, the PRA cited PLATTS maintaining how the International Oil Reference prices has increased by 62% and 67% for petrol and diesel respectively within the same period in 2021.
Highlighting the international market, the PRA pointed out that the World demand for Oil remains in excess of supply since January 2022. It also stated that Oil participating countries could not meet their production target since December 2021 making the market even tighter thereby pushing oil prices higher.
With regards geopolitics, the PRA asserted that the escalating crises in Europe have led to a surge in oil prices with fears and uncertainties.
In stating the new prices, the PRA informed that pump prices for March 2022 has been adjusted as follows:
• Petrol: From Le 10,000 to Le 12,000
• Diesel: From Le 10,000 to Le 12,000
• Kerosene: From Le 10,000 to Le 12,000
• Fuel Oil: From Le 10,000 to Le 12,000
The regulatory entity pointed out that the adjustments remain below the Market price of Le13, 000 per litre.
With these realities on the ground, some relatively new, the National Petroleum Sierra Leone Limited (NP-SL Ltd) will like to inform all its esteemed customers that it will be marketing the aforementioned petroleum products according to the new prices. Management of the premier petroleum importing and marketing entity wants to assure that it will do everything within its reach to ensure that those products are always available.
Known as 1st for Customer Care, NP-SL Ltd is very keen on offering qualitative services to its numerous customers spread across the country in order for them to get the feel that they are deriving value for money.
The company also has for sale NP Gas which is manufactured in different cylinder sizes and has been certified as good for cooking purposes. Gas could be bought at Filling Stations to be used in refilling. They could be secured at Filling Stations or from authorized dealers.
Besides, the company now has in place NP Smart Card which is used to procure fuel for vehicles. An holder of NP Smart Card only needs to top-up it, and after crediting it the Card could be used to purchase fuel. It is used to conduct cashless transactions which have been proven to be safe, time saving and efficient.
Shareholders and Management of NP-SL Ltd are really determined to continue to serve diligently, selflessly and pro actively in order to assuage fuel constraints that amount to Energy Poverty in some communities within the country.
