The Government of Liberia (GOL), through the Ministry of Commerce and Industries, has announced new adjustments in the prices of petroleum products on the Liberian market.
The updated structure is in keeping with a government pronouncement made earlier this year in which it committed to regularly review prices on the international market and make the corresponding change in Liberia.
The new adjustments will lead to a 25 cents (0.25) reduction in the prize of gasoline (PMS) and 20 cents (0.20) on diesel fuel (AGO). The latest prices are therefore as follows: Gasoline, $5.47, and Diesel fuel, $5.69.
Other products such jet fuel and heavy fuel oil have also been affected by the change. “Importers and distributors are therefore advised to refer to the Ministry’s approved ceiling in order to avoid inconvenience from our inspectors,” Commerce Minister, Mawine Diggs, has said. She warned against any attempt by marketers of the products to undercut competitors.
This price structure, which also takes into account the prevailing Central Bank of Liberia exchange rate, comes into force by September 9, 2022.
The government has in recent months made several downward adjustments in the prices of petroleum products as the cost of the commodity decreases on the international market.