The Petroleum Regulatory Agency (PRA)-Sierra Leone has warned fuel dealers who have been refusing to sell their existing stocks to trigger a price rise to desist from such act as the “Agency will not tolerate hoarding.”
In a press release, dated 5 May 2024, PRA categorically stated that: “dealers found hoarding fuel to trigger price hikes will face severe consequences ranging from immediate deregistration and license revocation.”
The Agency affirmed that there were “sufficient fuel supplies” (petrol and diesel) that would last into mid-July 2024 and that there was no need for hoarding or panic buying nor was there any anticipation of increase in prices in the short term.
The release added that, “with current stocks and upcoming deliveries, there are no expected disruptions in fuel availability.”
The release came in the midst of what many have described as an imminent fuel shortage which has seen long queues in fuel stations countrywide.