By Marcus Bangura
Fuel consumers across Sierra Leone are expressing growing frustration as private filling stations quietly slash pump prices below the Petroleum Regulatory Agency’s (PRA) official rate of 27.30 New Leones per litre.
Reports indicate that some private fuel companies have lowered their prices to between 24 and 25 Leones per litre, creating confusion and fuelling suspicion.
So far, the PRA, responsible for overseeing price regulation in the country, has not offered any public explanation or justification for the disparity and they currently maintain the official pump price at 27.30 New Leones per litre.
The silence from the regulator and the lack of a transparent pricing formula in Sierra Leone has deepened and heightened public suspicion and distrust, especially when fuel prices rise locally even as global oil prices fall. This growing lack of transparency has intensified calls for accountability in how fuel prices are determined in a struggling economy marked by inflation, rising transport costs, and a weakened national currency. The fuel price debate has become a flashpoint for broader governance concerns.
As fuel prices in Sierra Leone continue to fluctuate without clear justification, citizens are increasingly calling for transparency in the pricing mechanism and the establishment of a regional benchmarking system to ensure fairness and accountability.
Recent data comparisons reveal a widening gap in fuel prices across West Africa, with Sierra Leone consistently ranking among the most expensive, even though it is a non-oil-producing nation heavily reliant on imports. In contrast, Ivory Coast, Guinea, and Liberia maintain more stable fuel prices, averaging 24.10, 23.90, and22.30 New Leones per litre, respectively, thanks to government subsidies and more predictable taxation systems. Sierra Leone’s pricing, on the other hand, appears erratic and often lacks public explanation.
“People deserve to know how fuel prices are calculated,” said a university lecturer and activist. “We want a breakdown of costs, import duties, port charges, margins, and taxes so we can hold the system accountable.”
Calls for regional benchmarking are gaining traction. Such a framework would allow comparisons with neighbouring countries like Liberia, Guinea, and Ivory Coast to assess whether Sierra Leone’s price increase or decrease are justifiable. It would also help prevent artificial inflation and curb potentially exploitative practices by fuel importers or regulators.
Citizens are now urging the Petroleum Regulatory Agency and the Ministry of Trade to publish monthly pricing breakdowns and regional comparisons as a way to promote accountability, rebuild public trust, and ensure that fuel pricing serves the interest of ordinary Sierra Leoneans, not just a privileged few.
Several African countries have developed fuel pricing systems that offer varying degrees of transparency, providing lessons for nations like Sierra Leone struggling with opaque mechanisms.
South Africa employs an automatic monthly adjustment formula based on international oil prices, transport costs, taxes, and regulated margins. The Department of Mineral Resources and Energy publishes detailed monthly breakdowns, making it one of the most transparent systems on the continent.
Kenya’s Energy and Petroleum Regulatory Authority (EPRA) manages fuel prices through a regulated monthly review. The formula factors in import costs, taxes, levies, exchange rates, and distribution margins. EPRA’s full monthly disclosure of pricing details enhances predictability and public trust.
Ghana uses a deregulated pricing model where oil marketers set prices under the National Petroleum Authority’s oversight. Though market-driven, the NPA publishes indicative price ranges and monitors compliance, promoting moderate transparency.
Morocco has a liberalized market-driven pricing system, complemented by government monitoring. Price trends are shared publicly, though detailed formulas are not always disclosed. Consumer advocacy groups help maintain accountability.
Tanzania applies a regulated monthly pricing formula through EWURA, including import costs, taxes, levies, exchange rates, and profit margins. EWURA regularly publishes comprehensive price updates, maintaining strong transparency.
In contrast, Liberia sets fuel prices through government decisions without consistently publishing the detailed components, leading to limited public understanding. Similarly, Guinea’s state-controlled and subsidized pricing lacks a publicly available formula, resulting in low transparency and occasional public unrest.
Ivory Coast maintains a partially liberalized system with state stabilization measures. While prices reflect global trends, the government rarely provides full pricing breakdowns, limiting transparency.
However, Sierra Leone, unfortunately, remains one of the West African countries with a largely opaque and discretionary fuel pricing system. The Petroleum Regulatory Agency (PRA), tasked with overseeing the sector, does not consistently publish a clear breakdown of how fuel prices are calculated, such as CIF costs, global benchmark rates, taxes, dealer margins, and exchange rate influences. Pricing announcements often come without prior notice or detailed justification, leading to public suspicion and frustration. Unlike regional peers with monthly or quarterly reviews backed by published formulas, Sierra Leone’s fuel pricing remains vulnerable to political interference, market speculation, and public misinformation. For a country already burdened by inflation, economic hardship, and governance concerns, establishing a transparent, rule-based fuel pricing framework is not only timely, it is essential.
