By Bockarie Allieu
FREETOWN, Mar. 10 (SALONE TIMES) – No sooner had the Petroleum Regulatory Board in Freetown issued a release announcing an increase in the pump price of fuel than a remarkable spike in the prices of goods and services in the country emerged. The release indicates a two thousand Leones increase, from Ten thousand Leones to Twelve thousand Leones in the fuel pump price.
Even though there had been a feeling of unease over the Russian-Ukrain debacle, yet long before now there were signs that the increase in fuel price was imminent and at the very edge. However, the press release indicates that the key factors affecting the fuel adjustment, as they described it, were firstly that the international Oil Reference prices has increased by 62% and 67% for petrol and diesel respectively within the same period in 2021. The second reason points to that of geopolitics, where the escalating crisis in Europe has led to a surge in oil prices with fears and uncertainties. The release ended that the actual adjustment would have been Thirteen Thousand.
This increase elicited a prompt release from the Ministry of Transport and Aviation in collaboration with the Motor Drivers Union and other key stakeholders in the transport sector indicating a corresponding increase in transportation fares across the country. Increase in the fares to the provinces takes the highest toll. Freetown to Pendembu which was until yesterday was Seventy Four Thousand Leones is now Eighty Nine Thousand Leones. While people travelling to Makeni will now pay Forty Four Thousand Leones as against Forty Two Thousand Leones as at yesterday.
Ferry services have also been affected as second class passenger fees have leaped from Nine Thousand Leones to Eleven Thousand Leones while first class passengers will now pay Twenty One Thousand Leones as against Eighteen Thousand Leones as at yesterday. Tricycles (Kekes) will now pay a crossing fee of Sixty Thousand Leones from the previous fee of Forty Five Thousand Leones.
Reports state that this increase in transportation fares has also had a corresponding increase in the prices of local foodstuffs and other services.
