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Fuel price moves to Le15,000 a litre

Fuel prices have risen to Le15,000 per litre as a result of tough negotiations between the government and the Oil Marketing Company.

As you may recall, due to the conflict between Russia and Ukraine, there has been an artificial scarcity of fuel in the country. Because Russia, the world's second largest producer of fuel, has been sanctioned, fuel marketers have forecasted possible increases in price.
In this light, gas traders have hoarded stock and have steadfastly refused to sell at the government's imposed price in order to bring the price down to a profit margin.

According to the fuel traders, their significant decision to raise prices is based on the fact that there will most likely be a limited supply of gas and high demand, causing the wholesale price to skyrocket. Scarcity occurs in natural economics when there is limited production of a highly demanded good or service, and price increases are automatically orchestrated.

Furthermore, the Petroleum Regulatory Agency (PRA), led by Dr. Brima Baluwa Koroma, has conducted a win-win negotiation with fuel marketers, ensuring that they do not lose money and that the citizens do not bear the entire burden. That is why the price did not remain at Le18,000 as requested by the Petrol sellers, but instead settled at Le15,000 per litre, with the remainder being subsidized by the Sierra Leone government to help the common people.
Finally, if you're not aware of the current global crisis, some political party operatives may want to use this as an element to score a cheap political goal. And these politicians are well aware of your gullibility, as well as how axiomatic you are with propaganda.
National politics cannot solve global issues; global political strategy is required.


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