Monrovia, Liberia – The Ministry of Commerce and Industry, in collaboration with the Liberia Petroleum Refining Company (LPRC), has announced revised prices for petroleum products effective December 4, 2024.
The adjustments reflect slight decreases in gasoline and fuel oil prices, alongside reductions for Jet A-1 aviation fuel, while Heavy Fuel Oil (HFO) has seen an increase.
According to a release issued on December 3, 2024, and signed by Acting Minister of Commerce Scholastica T. Nyenkan-Nimely and Amos Tweh, Managing Director of the Liberia Petroleum Refining Company (LPRC), gasoline (PMS) will now be sold at a wholesale price of $3.63 and a retail pump price of $3.91 or LRD 705.00. Fuel oil (AGO) will be priced at $3.93 wholesale and $4.21 retail, equivalent to LRD 760.00.
These adjustments reflect a $0.07 reduction in gasoline prices and a $0.10 decrease for fuel oil. The prices were calculated using the Central Bank of Liberia’s exchange rate of LRD 180.00 to $1 as of December 2, 2024.
Jet A-1 aviation fuel has been reduced by $0.11 per gallon, now priced at $4.84. In contrast, Heavy Fuel Oil (HFO) has seen an increase of $6.95 per metric ton, with the new price set at $1,037.44 per metric ton.
The Ministry of Commerce and Industry, through its Inspectorate Team, has stressed the importance of strict compliance with the approved fuel prices. The Ministry has warned that measures will be implemented to prevent arbitrary price hikes at fuel pumps and to maintain fair market practices.
Importers are also advised to refrain from engaging in actions that undermine healthy competition.LPRC, MOCI Adjust Fuel Price for December
