By Joe Turay
Public pressure is mounting on Sierra Leone’s petroleum regulator to reduce pump prices, with consumers, civil society groups and media commentators arguing that falling international oil prices and fuel price reductions in several neighbouring West African countries have not been reflected at local filling stations.
Critics have accused the National Petroleum Regulatory Agency (NPRA) of failing to pass on potential savings to consumers, saying high fuel prices have worsened the country’s cost-of-living crisis by increasing transportation costs and the prices of food and other essential goods.
Some campaigners have questioned whether the NPRA’s pricing mechanism adequately reflects changes in international oil markets.
They have also alleged that the regulator has acted in the interests of petroleum marketing companies rather than consumers.
The NPRA has previously said that local fuel prices are determined by several factors, including international petroleum prices, exchange rate movements, taxes, freight costs and other import-related expenses.
The latest criticism comes after media organisations, bloggers and civil society activists intensified calls for lower fuel prices, arguing that Sierra Leoneans continue to bear a heavy financial burden despite changes in global oil markets.
Analysts say fuel prices have a significant impact on inflation in Sierra Leone because transport costs directly affect the prices of food, construction materials and other basic commodities.
Some critics also argue that pump prices had already risen before the recent tensions involving Iran and the United States affected global energy markets, raising questions about the basis for previous increases.
The NPRA, headed by Brima Baluwa Koroma, has not publicly responded to the latest allegations.
Petroleum marketing companies have also not commented on the accusations made by campaigners.
Economists say greater transparency in the country’s fuel pricing formula could help build public confidence and address growing concerns over the cost of living.
