The Ministry of Commerce and Industry of Liberia has called on the public to take note of the new prices for gasoline, fuel oil and jet fuel on the market. According to a press release dated January 7, 2024, New Price Ceiling for Petroleum Products on the Liberian market is effective as of 8th January 2025.
The Ministry disclosed that in close consultation with the management of the Liberia Petroleum Refining Company (LPRC), there is a decrease of US$12.77 in the metric ton price of Heavy fuel Oil.
The release states that the Liberia Petroleum Refining Company (LPRC), has announced that the price of Jet A-1 has been reduced by US$0.08 within the commerce of Liberia.
Furthermore, the prices of fuel oil and gasoline in United States Dollars are unchanged respectively, except for the Liberian Dollars component due to the exchange rate. Therefore, the new selling price for heavy fuel oil (HFO) US$1,024.67/MT, while the selling prize for
Jet A-1 gasoline is US $4.76; gasoline wholesale selling price is US$ 3.63 and retail US$3.91/725.00 while fuel oil is US$ 3.39 in selling price with retail US$4.21/780 .00 LD.
According to a release, the Ministry of Commerce and Industry Inspectorate Team will be closely monitoring the approved prices to avoid an arbitrary hike in the pump price of HFO. The Ministry will also be closely monitoring the effectiveness of the price circular to ensure that importers do not undercut fellow competitors on the market.
