General News

Breaking News

Gov’t reduces prices of petroleum products

Jarp Davies/Maximilian Kasseh, Jr.
A local failing station in parts of Monrovia
A local failing station in parts of Monrovia

MONROVIA-The Ministry of Commerce and Industry, in collaboration with the Liberia Petroleum Refining Company (LPRC), has announced the reduction in the price of petroleum products in the country.

The reduction affects the prices of gasoline and fuel oil.

A petroleum product monthly price circular from the Ministry of Commerce and Industry says there has been a 13 US cents reduction in the price of gasoline, while fuel oil has 11 US cents decrement.

According to the circular, the whole sale selling price of gasoline is now $2.95 cents with a retail pump price of $3.15 cents or its Liberian dollar equivalent LD 335.00.

The circular says the wholesale selling price of fuel oil $2.97 cents with a retail pump price of  $3.15 cents or its Liberian dollar equivalent of LD 335.00.

The new reduced prices took effect on Tuesday, April 4, 2017.

Meanwhile, the Ministry of Commerce and Industry says the ministry’s inspectorate team will closely monitor the approved ceiling prices to avoid arbitrary hike on the market.

It says the ministry will also monitor the effectiveness of the price circular to ensure that importers do not undercut fellow competitors on the market.

 


Copyright 2012 Mylbsonline.com All Rights Reserved.