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Friday, June 14, 2024

GOVERNMENT ADJUSTS PRICES OF PETROLEUM PRODUCTS

Date:

The government of Liberia, through the Ministry of Commerce and Industries, has announced new adjustments in the prices of petroleum products on the Liberian market.

A press release from the Ministry of Commerce says the updated structure is in keeping with a Government of Liberia 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 press release says the new adjustments will lead to a 25 cents (0.25) reduction in the price of gasoline (PMS) and 20 cents (0.20) in diesel fuel (AGO).

The release says Gasoline will now be sold for $5.47
and Diesel fuel sold for $5.69.

Other products such as 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”, says Commerce Minister Mawine Diggs.

Minister Digs warned against any attempt by marketers of the products to undercut competitors.

The price structure, also takes into account the prevailing Central Bank of Liberia exchange rate, as of September 9, 2022.

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