–Gasoline, Diesel, Jet Fuel and Heavy Fuel Oil Prices Reduced Effective July 8; Commerce Ministry Warns Against Arbitrary Pump Price Increases
MONROVIA – In a move expected to provide fresh relief to motorists, transport operators, businesses, and consumers, the Government of Liberia has announced another reduction in the ceiling prices of petroleum products, citing continued consultations between the Ministry of Commerce and Industry (MOCI) and the Liberia Petroleum Refining Company (LPRC).
The new prices, which took effect Wednesday, July 8, cover gasoline (Premium Motor Spirit – PMS), diesel or fuel oil (Automotive Gas Oil – AGO), Jet A-1 aviation fuel, and Heavy Fuel Oil (HFO).
The latest adjustment marks the second fuel price reduction within a month, following similar cuts announced in June as international petroleum prices continued to fluctuate. The government says the move is intended to ensure that Liberian consumers benefit from favorable developments on the global oil market while maintaining stability in domestic fuel prices.
Under the new pricing circular jointly signed by Commerce and Industry Minister Magdalene Ellen Dagoseh and LPRC Managing Director Amos B. Tweh, the retail pump price of gasoline has been reduced by US$0.06 per gallon, while diesel has been slashed by US$0.20 per gallon.
Beginning July 8, gasoline will retail at US$4.88 per gallon, equivalent to L$890, down from the previous ceiling price. Diesel (AGO) will now sell at US$6.05 per gallon, or L$1,105, reflecting the larger reduction announced by the government.
The wholesale selling prices have also been adjusted, with gasoline set at US$4.60 per gallon and diesel at US$5.77 per gallon.
According to the circular, the revised Liberian dollar prices are based on the Central Bank of Liberia’s July 3, 2026 exchange rate of L$182.70 to US$1.
Aviation Sector Receives Significant Price Relief
In a separate circular, the Ministry of Commerce and Industry also announced a substantial reduction in the price of Jet A-1 aviation fuel, a development expected to benefit airlines, aviation operators, and the broader air transport sector.
The government reduced the price of Jet A-1 by US$1.26, bringing the new selling price to US$5.96.
Although the circular does not specify the factors behind the sharp reduction, aviation fuel prices are generally influenced by international crude oil prices, refining costs, freight charges, and global demand.
Industry observers say lower aviation fuel costs could help reduce operating expenses for airlines serving Liberia while improving the competitiveness of the country’s aviation sector.
Heavy Fuel Oil Also Reduced
The government also announced a reduction in the price of Heavy Fuel Oil (HFO), which is widely used by industrial facilities, manufacturing companies, and some power-generation operations.
Effective July 8, the price of Heavy Fuel Oil has been reduced by US$39.71 per metric ton, bringing the new selling price to US$1,038.95 per metric ton.
The reduction is expected to lower operational costs for industries that depend on HFO, although the extent to which those savings are passed on to consumers will vary across sectors.
Government Warns Against Price Gouging
While announcing the new pricing structure, the Ministry of Commerce and Industry emphasized that it will closely monitor compliance across the country.
The Ministry’s Inspectorate Team has been directed to ensure that petroleum importers, distributors, and filling stations strictly adhere to the approved ceiling prices.
Officials warned against arbitrary increases in pump prices and said enforcement teams will also monitor the market to prevent anti-competitive practices, including undercutting competitors and hoarding petroleum products.
The Ministry stressed that strict compliance with the approved pricing regime is essential to protecting consumers and ensuring fair competition within Liberia’s petroleum sector.
Continued Government Intervention
Liberia regulates petroleum prices through monthly price circulars issued jointly by the Ministry of Commerce and Industry and the Liberia Petroleum Refining Company.
The pricing mechanism takes into account international petroleum market trends, freight costs, taxes, exchange rates, insurance, and other import-related expenses before establishing maximum wholesale and retail prices for the Liberian market.
The latest reductions follow similar price adjustments announced in June 2026, when the government lowered gasoline, diesel, Jet A-1, and Heavy Fuel Oil prices in response to favorable movements in international oil markets.
Although global energy markets remain volatile because of geopolitical tensions and fluctuations in crude oil supply and demand, Liberian authorities say they will continue reviewing petroleum prices on a monthly basis to ensure that domestic consumers benefit whenever international conditions permit.
For transport operators, businesses, and ordinary Liberians already grappling with the rising cost of living, the latest reductions are expected to provide modest relief by lowering transportation costs and easing operational expenses across several sectors of the economy.
Whether the reductions ultimately translate into lower prices for goods and services will largely depend on how transport providers, businesses, and fuel retailers respond in the coming weeks.
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