New Inter District Transport Fares Announced Following Fuel Price Reduction (2024)

Monday, July 15, 2024
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Disclaimer: Comments expressed here do not reflect the opinions of Sierraloaded or any employee thereof.

|2024-07-07 17:54:54
Are we really Sierra leoneans? Are we seeking the interest of our beloveth "mama" Sierra Leone.Let leave politics and let focus on us ourselves.Reduction of 1.5 from 30 being 28.5 what is the difference or what really affected our cost of living.Please let us looked at ourselves as "wan".La We small wan dem sef enjoyedLa we sef make history with we countryThe government really need for do moreThings are no more hard for the Germans but are really really and seriously harder for we salone pikin dem.Lon tarPRATT BABY SAYING SOP#BABY
A Sanusie |2024-07-03 22:45:43
While it is great that the (illegitimate) government is looking to bring down prices, I think they need to be careful about trying to control/set prices too much. We are a free market economy. They government should be ensuring that companies and business people are not raping our people, however, the government should not be the one setting prices in most cases. Fuel is not the only expenses that businesses have. Since we are talking transportation, vehicle owners have maintenance costs, salaries and those are not stagnant or going down like fuel. And while whatever rearranging the government might have done with how fuel prices are set might have provided some leeway to lower prices, the fact is that oil prices in international market today, is 10% higher that in it was at the start of June, which means, petrol, diesel, Kerosene...prices are at least 10% higher. Fuel importers are not going to import fuel at a loss. If prices continue to go up in international markets, then we end up with shortages. The Leone is also only going to depreciate over time. Den for take tem or they end up making problems worse.
|2024-07-03 07:31:26
We really appreciate the government for wonderful job done, thanks President Bio. But we don't see the city service prices like Lumley to jui, Waterloo to town
|2024-07-02 20:11:24
Price go up at five Leones at any price increases
|2024-07-02 19:45:43
May Allah provide more energy for the government, long live Sierra Leone
|2024-07-02 07:45:32
Why salone we nor lek wesef , if nabin fuel price go up u dae see boku commets. But now nor tok wae price don go done.

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FAQs

When the price of fuel goes up, carriers are required to increase their prices or take some losses. The rising costs of fuel affect the whole industry in that if it costs more for the freight carrier to transport goods, the shipper is charged more to transport those goods to make up for the increased costs.

Increased Operating Costs

The rise in fuel prices significantly impacts operating costs, driving up expenses for trucking companies. This scenario leads to higher freight rates, as companies adjust their pricing to offset fuel costs.

Raising fuel costs have also made air travel more expensive, so even with increased gas prices, traveling by car is still the most cost-effective method in most cases.

Gasoline is the primary U.S. transportation fuel

In 2022, Americans used about 135.73 billion gallons of gasoline, including 134.55 billion gallons of finished motor gasoline (about 368.63 million gallons per day) and about 0.19 billion gallons of finished aviation gasoline.

The cost of fuel varies depending on the type of fuel and the region. However, it generally represents 25% to 30% of the total cost of trucking.

Carriers may compensate by the mile or through a percent of revenue and provide a per mile fuel surcharge rate to owner-operators. Some carriers may also provide an all-in revenue in which the shippers' fuel surcharge is already included in the rate the carrier is providing to the owner-operator.

Though capacity and rates might feel stable, we are in a changing environment. We continue to see carrier capacity leave the market (albeit somewhat slowly), truckload rates are clawing higher, and stable consumer spending supports a rosier freight demand outlook later in 2024.

Ultimately the price increase of fuel will result in even the price of transport going up. This means that goods being transported by road will now cost you more. The fuel price increase will also have an impact on employees traveling to work.

Fuel price hikes put the airline industry under strain—but may prompt airlines to limit overcapacity, leading to better returns and industry stability. Just as airlines began their recovery from the COVID-19 pandemic, the sector was hit by another challenge—a rapid spike in fuel prices.

As a general rule, profit margins in any industry relying on the transportation of goods are affected by the cost of oil. When oil costs go up and gas prices rise in response, transportation costs for materials and finished products go up as well.

We find that high gasoline prices affect fleet fuel economy through two channels: (1) shifting new auto purchases towards more fuel-efficient vehicles, and (2) speeding the scrappage of older, less fuel-efficient used vehicles.

New Inter District Transport Fares Announced Following Fuel Price Reduction (2024)

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