By VOS Writer
For the past two months, the oil price in the global market has decreased, and some God-fearing oil marketing company in SierraLeone like Zala has been making good use of this opportunity to domesticate the reduction by decreasing the pump price of petrol from Le 27.3 to Le25. The company took this decision at the time when its competitors are mounting a campaign for the pump price to remain at Le27.3.
Prior to the global decrease in fuel price, Zala Petroleum Company was the only company that took the bold step to decrease the pump price of fuel from Le27.3 to Le26. And that decision ignited cold war with their competitors. But that will be discussed in another day.
However, during his advocacy for price reduction, Civil Society Activist, Edmond Abu Jr, argued that with a 20% drop in global price of fuel, it is both fair and necessary for Government to implement 17% reduction in local fuel prices-bringing it down from Le27.3 to Le22.7.
He also exposed the consistent delaying tactics of the regulatory body, NPRA, to review the pump price of fuel, which according to him, is as a result of the oil marketing cartel allegedly led by Leonco, whom, he accused of rallying behind the Government to do otherwise.
He also described Leonco short-term commitment to reduce the fuel price, despite the official announcement made by NPRA, as a hoax.
“Leonco was just playing tricks on Sunday to reduce the pump price of fuel and later shouting wolf about making loss”, he said, further asking why Zala and Aminata companies are not complaining about loss when they sell their fuel at cheaper price to the public.
He further accused Leonco for playing “Corporate Gangsterism” game by compelling the Government to maintain the pump price at Le27.3.
“I must break this news that a Cartel led by Leonco had been rallying behind Government to introduce a floor price on petroleum products, but their expectation has been shattered by the President”, he said, further intimating about the company’s attempt to muzzle other oil marketing companies not to sell the pump price of fuel below Le26. Edmond Calls for the intervention of the President, as things are getting messier.
However, LEONCO has not made any reaction to Edmond Abu’s claims. The right of reply can be granted to them if they deemed it necessary.
Despite Edmond Abu’s advocacy, the Regulatory body, NPRA is yet to make any official statement about their plan to review the pump price or not. This conspicuous silence has raised suspicious about NPRA’s lack of transparency and accountability in dealing with this issue under scrutiny.
This newspaper is closely monitoring the situation and will keep the public abreast as things unfold.
