The Authority is mandated to regulate the Petroleum sector in a fair, transparent and predictable manner consistent with government policy and sensitive to stakeholder interests.

The Economic Regulation functions of the Authority under Petroleum sector are:

1. Develop and Implement Wholesale and Retail Pump Price Regulations

2. Set, Review and Approve Monthly Wholesale and Retail Pump Prices.

3. Set, Review and Approve contracts, Tariffs and Charges for common user petroleum logistics facilities (Jetty Handling, Primary Storage, Pipeline, and Secondary Storage Charges and Tariffs)