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Gov. increases prices of gasoline and fuel

Francis Pelenah/Maximilian Kasseh, Jr.

MONROVIA, LIBERIA-The Government of Liberia has with immediate effect announced an increase in the prices of gasoline and diesel fuel on the Liberian market.

According to a petroleum price circular issued Tuesday, October 30, 2018, by the Liberian Government, the retail pump price for a gallon of gasoline has increased from $540 Liberian dollars to $580 Liberian Dollars.

The retail pump price for a gallon of diesel fuel has also increased from $560 Liberian Dollars to $615 Liberian Dollars.

The new petroleum price circular issued by the Ministry of Commerce & Industry and the Liberia Petroleum Refining Company (LPRC), takes effect as of Tuesday, October 30,2018.

The government said the decision to increase the prices is a result of a shift in the parameters that are frequently used to determine the prices of two products in the Country.

Meanwhile, the Ministry of Commerce says its inspectors will closely monitor the approved ceiling prices to avoid the arbitrary hike in the pump prices of gasoline and diesel fuel on the local market.

The circular further warned that the Ministry of Commerce will also closely monitor the effectiveness of the price circular to ensure that importers do not undercut fellow competitors on the market.

 


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