NPRA Issues Warning Against Fuel Hoarding and Price Inflation

NPRA Issues Warning Against Fuel Hoarding and Price Inflation

The National Petroleum Regulatory Authority (NPRA) has issued a formal warning to petroleum dealers across Sierra Leone regarding the hoarding of fuel and the sale of products above approved pump prices. The Authority emphasized that any violators will be subject to legal penalties.

In a public notice released on Thursday, March 12, the NPRA clarified its status as the sole entity authorized to determine and announce petroleum prices in Sierra Leone, acting in coordination with the Ministry of Trade and Industry and the Ministry of Finance.

The approved national pump price is currently set at NLe 32.00 per litre for both petrol and diesel. All marketing companies and independent dealers are required to adhere strictly to this pricing structure.

To maintain market stability, the NPRA assured the public of a sufficient national petroleum stock. Consequently, all stakeholders are urged to maintain a consistent and uninterrupted supply to the market.

The Authority reiterated that proactive monitoring is in place, and any entities found engaging in hoarding or price manipulation will face the maximum penalties prescribed under the law.

The NPRA remains dedicated to upholding transparency, fair pricing, and the continuous availability of petroleum products for the benefit of all citizens.