Monrovia — Retail prices for gasoline and fuel oil will remain steady in United States dollar terms following the release of a new pricing circular issued on March 3 by the Ministry of Commerce and Industry in collaboration with the Liberia Petroleum Refining Company (LPRC).
The latest circular fixes the pump price of gasoline (PMS) at US$4.02, equivalent to LD 755, while fuel oil (AGO) will continue to retail at US$4.33, or LD 810. The pricing structure reflects the prevailing exchange rate of LD187 to US$1 as provided by the Central Bank of Liberia. Authorities noted that the adjustments are anchored on the average Platts benchmark recorded over the past month.
LPRC management disclosed that the decision followed extensive consultations with petroleum importers and other industry stakeholders. The move comes at a time when global oil markets remain unstable, with international prices showing upward pressure.
Officials acknowledged growing concerns over the trajectory of global fuel costs but emphasized that the government remains vigilant. They assured the public that fuel pricing will continue to be reviewed in line with international market trends to promote transparency, fairness, and stability within the domestic petroleum sector.
At the same time, the Ministry of Commerce and the LPRC affirmed that the country has sufficient petroleum reserves. Authorities further revealed that contingency mechanisms have been activated to deter artificial supply disruptions or unwarranted price increases, as part of broader efforts to safeguard consumers and maintain market confidence.
