Prices of petroleum products increase

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July 16, 2018

By Hassan Gbassay Koroma

prices
Chief Executive Director Thompson (centre) updated journalists on the increase Friday

Government of Sierra Leone and petroleum companies operating in the country have last Friday (13th July) officially announced increment in prices of all petroleum products.

Announcing the increment at the British Council Hall in Freetown, Chief Executive Director at the Ministry of Trade and Industry, Charles Mereweather Thompson, said that following recent development in international petroleum oil market, government reviewed the policy on petroleum products in the country.

He said the petroleum prices announced by the Ministry of Finance in collaboration with Ministry of Trade and Industry, Oil Marketing Companies and the Petroleum Regulatory Agency were liberalised with effect from Friday, 13th July, and that there would henceforth be a single full pass-through pricing formula with the current prices.

Thompson further said that the pump prices for Petrol, Diesel and Kerosene have been increased from Le6,000 to Le8,000 per litre, and that fuel oil would now sell at Le7,000 instead of Le5,000.

“Following recent development in the International Petroleum Oil Markets, government has reviewed the policy on petroleum products. The petroleum prices as announced by the Ministry of Finance in collaboration with the Ministry of Trade and Industry, the Oil Marketing Companies and the Petroleum Regulatory Agency, is hereby liberalised with effect from Friday 13th July 2018,” he said.