Sierra Leone Hikes Fuel Prices

Sierra Leone Hikes Fuel Prices 

The Government of Sierra Leone, acting through the National Petroleum Regulatory Authority (NPRA), has formally announced an upward adjustment to the pump prices of petrol and diesel under the nation's established petroleum pricing regime. The price per litre for both petrol and diesel has been increased from Le 28.50 to Le 32.00.

Effective March 7, 2026, the new pricing structure will also establish the per-litre price of kerosene at Le 28.03 and fuel oil at Le 26.73.

The NPRA's official pricing breakdown attributes this revision to fluctuations in the international petroleum market, alongside the incorporation of various cost components. These components include freight charges, insurance, port fees, storage costs, and necessary exchange-rate adjustments.

Analysis of the pricing formula data indicates that the Average Platts Prices (FOB MED) for February 2026 were recorded at USD 686.53 per metric ton for petrol, USD 683.93 for diesel, USD 781.56 for kerosene, and USD 371.43 for fuel oil.

The Authority also factored in freight and premium costs, which vary from USD 69.00 for kerosene to USD 103.50 for fuel oil, in conjunction with an exchange-rate adjustment of Le 23.78 per US dollar. These elements collectively determine the landed cost of petroleum products within Sierra Leone.

Additionally, statutory levies, encompassing excise duty, road user charges, fuel marking fees, and contributions to the Infrastructure Development Fund, were included in the final pump price calculation.

The NPRA clarified that this adjustment aligns with the government's "full pass-through" petroleum pricing mechanism. This mechanism is designed to ensure pricing transparency by reflecting global fuel price movements and associated costs directly in local pump prices.

This increase is anticipated to generate broader economic consequences, particularly affecting the transportation sector and the overall cost of goods and services, as consumers navigate elevated living expenses.