MONROVIA, Liberia — The Government of Liberia has announced that retail prices for gasoline and fuel oil will remain unchanged despite ongoing volatility in the global petroleum market.
In a price circular issued Tuesday, the Ministry of Commerce and Industry, in collaboration with the Liberia Petroleum Refining Company (LPRC), set the retail pump price for gasoline (PMS) at US$4.02 (LD755) per gallon and US$4.33 (LD810) per gallon for fuel oil (AGO).
According to the circular, the price ceilings apply to both wholesale and retail markets and reflect prevailing international petroleum benchmarks, including the average Platts price recorded last month, as well as adjustments tied to the Central Bank of Liberia’s exchange rate of LD187 to US$1.
Government officials said the decision to maintain current fuel prices follows consultations with petroleum importers and industry stakeholders to evaluate the potential impact of rising global oil prices.
During those discussions, authorities expressed concern over increasing petroleum costs worldwide and reaffirmed their commitment to closely monitor developments in the international energy market.
Officials noted that the government will continue to track global price movements and adjust domestic pricing when necessary to reflect changes in market conditions.
Despite the uncertainty in global oil markets, the government has sought to reassure the public that Liberia currently maintains adequate petroleum reserves.
“The Government of Liberia wishes to assure the public that the country holds a significant and secure stock of petroleum products,” authorities said in the statement.
To further stabilize the market, officials disclosed that a comprehensive contingency plan has been developed to prevent sudden price spikes or supply disruptions.
The government is also working closely with fuel importers and petroleum dealers to ensure that the global market situation is not exploited to create artificial shortages or impose unjustified increases on consumers.
Authorities emphasized that regulatory institutions will remain vigilant in enforcing price ceilings and maintaining stability within Liberia’s petroleum sector.
The Liberia Petroleum Refining Company reaffirmed its commitment to ensuring the uninterrupted supply of fuel across the country, noting that stable petroleum distribution remains critical to national economic activity.
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