The CSO Consortium on Petroleum and Industrial Relations has called on the public to disregard what it describes as misinformation and misleading statements circulating about pending petroleum price adjustments in Sierra Leone.
In a press release issued on 25th June 2026 from its headquarters at 45/89 Fort Street in Freetown, the Consortium stated that the Government of Sierra Leone has been subsidizing approximately US$1.6 million monthly since April 2026 to cushion the impact of rising global petroleum prices and protect consumers from sudden economic shocks. It noted that fuel prices have remained stable even when international prices reportedly doubled, describing the intervention as part of government efforts to maintain economic stability and safeguard citizens.
The Consortium attributed ongoing volatility in the global oil market to geopolitical tensions and conflicts involving the United States and Iran, stating that such developments often affect crude oil prices, shipping costs, and supply chains worldwide. It further noted that countries reliant on imported petroleum products, including Sierra Leone, remain vulnerable to external market fluctuations.
It also indicated that the Government of Sierra Leone, through relevant authorities, is closely monitoring international developments, including diplomatic engagements and memoranda of understanding involving the United States, Iran, Israel, and Lebanon, in order to assess their potential impact on global oil prices and the domestic market.
According to the Consortium, the petroleum sector in Sierra Leone is managed through a structured technical framework involving key stakeholders such as the Ministry of Finance, the Ministry of Trade and Industry, the National Petroleum Regulatory Authority (NPRA), and other relevant institutions. It stated that these bodies regularly convene to review industry data and provide oversight to ensure informed decision-making in the sector.
The Consortium emphasized that government has a responsibility to balance consumer protection, investor confidence, and national revenue generation, noting that this balance is essential for maintaining a stable petroleum industry and ensuring consistent fuel supply across the country.
It urged the public to rely only on official communications from relevant regulatory authorities and to avoid speculation regarding fuel pricing. It also encouraged citizens to remain calm, as the established pricing mechanism and ongoing review processes take their course.
The statement further called on relevant institutions to continue with scheduled fuel price reviews in line with prevailing international market conditions and national economic interests.
Reaffirming its commitment, the CSO Consortium on Petroleum said it remains dedicated to promoting transparency, public awareness, market stability, and constructive dialogue within the petroleum sector and the wider economy.
The statement was signed by Alphonso Manley, Chairman of the CSO Consortium on Petroleum.
CSO CONSORTIUM ON PETROLEUM AND INDUSTRIAL RELATIONS
45 / 89 FORT STREET FREETOWN
EMAIL csopir@gmail.com
Motto: strive for excellence
45 / 89 Fort Street, Freetown, Sierra Leone Tel: +232-78-627178 email: csopir@gmail.com
PRESS RELEASE
FOR IMMEDIATE RELEASE 25th June, 2026
CSO CONSORTIUM ON PETROLEUM CALLS ON THE PUBLIC TO DISREGARD MISINFORMATION ON THE PENDING FUEL PRICE ADJUSTMENTS
The CSO Consortium on Petroleum wishes to address the misinformation and misleading statements currently being circulated regarding petroleum price adjustments in the country.
We wish to inform the public that the Government of Sierra Leone has been subsidizing approximately US$1.6 million on a monthly basis since April, 2026 for petroleum products to cushion the impact of rising costs and ease the burden on consumers. Prices remained stable even when international prices doubled. This intervention reflects government’s commitment to maintaining economic stability and protecting citizens from volatile sudden shocks in the international petroleum market.
The Consortium notes that the ongoing tensions and conflict involving the United States and Iran continue to create uncertainty in the global oil market. Such developments often affect international refined oil prices, shipping costs, and fuel supply chains across the world. As a result, countries that import petroleum products, including Sierra Leone, are vulnerable to external market fluctuations.
We are informed that the Government of Sierra Leone, through the relevant authorities, is closely monitoring developments, including the Memorandum of Understanding (MoU) and diplomatic engagements recently undertaken between the United States and Iran which also include Israel and Lebanon. The government remains vigilant in assessing the potential implications of these developments on global oil prices and their impact on the local market.
The Consortium further notes that the petroleum sector is well structured with a technical committee comprising key stakeholders, including the Ministry of Finance, the Ministry of Trade & Industry, the National Petroleum Regulatory Authority (NPRA), and other relevant institutions that regularly convened to assess the situation and provide oversights based on accurate industry data on refined petroleum product.
Government has a responsibility to protect consumers, safeguard investments, and preserve national revenue. Achieving this balance is critical to ensuring a stable petroleum industry, maintaining investor confidence, and guaranteeing a reliable supply of fuel throughout the country.
We therefore call on the public to disregard misinformation and speculation regarding fuel pricing and to rely only on official information from the relevant regulatory authorities. We urge citizens to remain calm and allow the established pricing mechanism and the ongoing review process to take its course.
The Consortium further encourages the relevant institutions to undertake their scheduled fuel price review, taking into account prevailing international market conditions and the need to protect the interests of consumers.
It is important to emphasize that the petroleum industry is managed by qualified professionals and technical experts who continuously monitor both local and international market trends on refined petroleum products to ensure data driven, transparent, and responsible decision-making for market stability.
A responsible advocacy means prioritizing public interest rather than sensationalism and clearly set a boundary between opinion and facts.
The CSO Consortium on Petroleum therefore remains committed to promoting transparency, public awareness, market decorum and constructive dialogue on matters affecting the petroleum sector and the wider economy of Sierra Leone.
Signed
Alphonso Manley
CSO Consortium on Petroleum
Chairman