The Ministry of Commerce & Industry, in close consultation with the management of the Liberia Petroleum Refining Company (LPRC), has announced a steep rise in the prices of petroleum products, reflecting an upward revision in the wholesale and retail prices of gasoline (PMS) and fuel oil/diesel (AGO).
The increment, contained in the Petroleum Products Monthly Price Circular effective April 4, 2026, comes barely three weeks since the government announced a previous increment in the price of the product, which is said to be as a result of the USA-Israel war against Iran in the Middle East.
According to the revised price ceilings, gasoline (PMS) is now US$4.81 per gallon (wholesale) and US$5.09/L$950 per gallon (retail). Fuel Oil (AGO) is US$6.27 per gallon (wholesale) and US$6.55/L$1,225 per gallon (retail).
The adjustments represent increases of US$0.22 for gasoline and US$0.77 for fuel oil, respectively. The pricing structure is based on the Central Bank of Liberia exchange rate of L$187.00 to US$1.00 (as of February 13, 2026).
According to the government, these adjustments are necessary to respond to prevailing market conditions while ensuring the continued availability of petroleum products across the country, with efforts being focused on maintaining supply stability and preventing disruptions in the downstream petroleum sector.
“To safeguard consumers, the Inspectorate Team of the Ministry of Commerce & Industry, in collaboration with LPRC, will intensify monitoring and enforcement efforts to ensure full compliance with the approved pricing structure. The government also warns against practices such as hoarding, undercutting, or arbitrary price increases, which undermine market stability. Importers, distributors, and retailers are urged to adhere strictly to the established price ceilings. Any violations will attract appropriate legal actions in line with existing regulations,” a Ministry of Commerce press release observed.
Meanwhile, the prices announced by the Ministry of Commerce, in collaboration with LPRC, may only apply to Montserrado County and its environs, as was done during the previous increment. In March 2026, the government approved US$4.87 as retail price for gasoline and US$5.78 as retail price for fuel. However, In Zwedru, Grand Gedeh County, the Ministry of Commerce approved price for a gallon of gas was US$5.73, and US$6.64 for a gallon of fuel. Counties like Maryland, Grand Kru, Sinoe and Rivercess saw even worse.
Economists are predicting an increase in the prices of goods and services in the coming days, including food and transportation, which could severely impact the economic condition of the people.
It is yet uncertain how long the conflict in the Middle East would last, as US President Donald Trump has announced additional four weeks of continued bombardment in Iran. This, on one hand, means countries like Liberia should be prepared for the harsh economic pinch of the global impact of the conflict.
