Breaking News

Increase in Petroleum price reported

By Al Bowier

 (lbsonline/Buchanan)There has been a reported sharp increase in the price of petroleum products on the Liberian market.

The increase of gasoline has also caused hike in the price of transportation fares, making most comuters to get stranded in parts of Monrovia and its environs.

Several passengers interviewed by lbsonline around Monrovia said they are paying more than the regular transportation fares as a result of the increase.

Some commercial drivers have confirmed that the cost of petroleum products has sky rocketed thereby constraining them to increase the transport fares.

On 3rd December 2012, the prices of gasoline was put at LD$ 350.00-LD$ 375.00 per gallon, an equivalent of US$500.00-600.00respectively.

However, there has been no official statement from the Ministry of Commerce who is responsible for regulating the prices of commodities on the Liberian market. 


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