The Ministry of Commerce and Industry, in close consultation with the management of the Liberia Petroleum Refining Company, (LPRC) has announced a reduction in the pump prices of gasoline and fuel oil by 12 cents and 15 cents, respectively.
According to a circular issued in Monrovia, this means, the wholesale price for gasoline is now US$3.88 cents and fuel oil is US$3.93 cents, while the pump price for gasoline is US$4.06 or 345Liberian Dollar and fuel oil is US$4.11 or L$350.
There will also be a five Liberian dollar reduction in the price of fuel oil due to the exchange rate differential, which took immediate effect on Monday, September 29, 2014.
The circular was signed by the Minister of Commerce and Industry, Axel Addy and LPRC Managing Director, T. Nelson Williams, II. This is the second month in a row that the prices of gasoline and fuel have dropped.