Parliamentary Committee Grills NPRA on Fuel Pricing and Industry Standards

Parliamentary Committee Grills NPRA on Fuel Pricing and Industry Standards

The Parliamentary Oversight Committee on Trade and Industry has launched a formal inquiry into the operations of the National Petroleum Regulatory Authority (NPRA) and Oil Marketing Companies (OMCs), seeking answers on fuel pricing transparency, market fairness, and national supply security.

The engagement, held on Wednesday, 8 July 2026, was chaired by Hon. Veronica Kadie Sesay. Lawmakers challenged the current pricing structure, specifically noting that local pump prices appear to rise rapidly alongside international markets, yet lag significantly when global prices fall.

NPRA Director General, Mr. Brima Baluwa Koroma, defended the existing mechanisms, explaining that local costs are influenced by factors beyond crude oil prices, such as refined petroleum market fluctuations, exchange rates, taxes, and distribution margins. Koroma noted that government subsidies have been instrumental in stabilizing pump prices during periods of international market uncertainty.

The Committee highlighted several critical issues, including:

• Market Competition: Members questioned the rationale behind regulated price floors and ceilings and raised concerns over fuel stations selling below the regulated floor.

• Product Quality: Lawmakers expressed anxiety over reports of substandard fuel imports, urging the NPRA to strictly enforce quality standards.

• Supply Security: The committee queried the adequacy of Sierra Leone’s strategic fuel reserves in the event of global supply chain disruptions.

Representatives from OMCs warned that aggressive price reductions could threaten industry sustainability and investment. 

The Committee concluded the session by emphasizing the need for improved public education on fuel pricing mechanisms and pledging a continued commitment to ensuring transparency and consumer protection in the petroleum sector.