By G. Watson Richards
The Government of Liberia has announced an increase in the price ceilings for petroleum products, citing shifting global market conditions and the need to maintain a steady nationwide supply.
In a statement issued on April 4, the Ministry of Commerce & Industry, in consultation with the Liberia Petroleum Refining Company (LPRC), confirmed upward revisions to both wholesale and retail prices of gasoline and fuel oil.
According to the government’s Petroleum Products Monthly Price Circular, gasoline (PMS) will now retail at US$5.09 per gallon (L$950.00), reflecting an increase of US$0.22. The wholesale price has been set at US$4.81 per gallon.
Fuel oil, also known as diesel (AGO), recorded a sharper rise. The new retail price is US$6.55 per gallon (L$1,225.00), an increase of US$0.77, while the wholesale price stands at US$6.27 per gallon.
The statement further noted that these adjustments align with prevailing economic realities and currency considerations. The pricing structure continues to rely on the exchange rate set by the Central Bank of Liberia, currently L$187 to US$1.
In the official release, the government stated:
“These adjustments are necessary to respond to prevailing market conditions while ensuring the continued availability of petroleum products across the country.”
Both MoCI and LPRC emphasized that maintaining supply stability remains a top priority, given the critical role of fuel in transportation, power generation, and broader economic activity.
To protect consumers, the government also announced stricter enforcement measures. Inspection teams from the Ministry of Commerce, working alongside LPRC, will intensify monitoring efforts nationwide to ensure compliance.
The statement further warned: “Practices such as hoarding, undercutting, or arbitrary price increases, which undermine market stability, will not be tolerated,” adding that violators will face legal consequences under existing regulations.
Importers, distributors, and retailers have been urged to adhere strictly to the approved pricing structure.
Despite the increases, the government reaffirmed its commitment to balancing market realities with consumer protection, emphasizing transparency, fairness, and uninterrupted access to petroleum products.
The latest adjustment comes as countries worldwide grapple with fluctuating global oil prices, highlighting the ongoing challenges faced by import-dependent economies such as Liberia.
