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Politics News

Another drop in petroleum prizes

The Government of Liberia through the Ministry of Commerce and Industry and in collaboration with the management of the Liberia Petroleum Refining Company, (LPRC) has announced a reduction in the prizes of petroleum products on the Liberian market.

Government’s action comes in the wake of hike in the prizes of petroleum products on the market here by some unscrupulous business people, especially in the midst of the Ebola crisis. According to a LPRC release, government has come up with the decision to immediately drop the pump prices of gasoline (PMS) and fuel oil (AGO) by 25 cents each.

The LPRC says the wholesale price for gasoline in United States Dollars is now US$3.63 cents and fuel oil is US$3.68 cents, while the pump price for gasoline is US$3.81 /L$325 and fuel oil is US$3.86 /L$330. The release says the reduction took immediate effect Tuesday, October 28, 2014.

LPRC Managing Director, T. Nelson Williams, II represented the LPRC while the Minister of Commerce and Industry, Axel Addy represented his ministry during the consultation and final decision.

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