The Liberia Petroleum Refining Company (LPRC) and the Liberia Revenue Authority (LRA) have announced the resumption of a twenty-cent ($0.20) surcharge on petroleum products and an additional five cents ($0.05) on storage, effective May 1, 2025.
This decision follows extensive consultations involving the Ministries of Finance and Development Planning (MFDP), Commerce & Industry (MoCI), LPRC, LRA, and other key stakeholders. The move comes as part of a strategic effort to address a growing fiscal gap caused by a significant reduction in Official Development Assistance (ODA) from some of Liberia’s international partners.
The sudden decline in ODA has had a notable impact on vital sectors such as Health, Education, and Agriculture. In response, the government has implemented a series of revenue-enhancing measures to mitigate these effects and ensure the continued provision of essential services.
The resumption of these charges is seen as a necessary step in maintaining economic stability and supporting national development efforts. Authorities have called for public understanding and cooperation in this matter, emphasizing that the funds generated will be channelled into sustaining critical government programs.
The Ministry of Commerce & Industry and the Liberia Petroleum Refining Company have jointly signed off on this decision, reaffirming their commitment to Liberia’s economic resilience and sustainability.
For further information, stakeholders and the public are encouraged to engage with the relevant government agencies to gain a clearer understanding of the implications of these surcharges.
