Government clarifies amidst planned price increase
The Government of Liberia announced over the weekend that there is more than adequate supply of petroleum products in-country to serve the local market for the next several months and that there should be no reason for panic buying of gasoline or diesel fuel.
The Government’s pronouncement comes amidst panic buying and hoarding of the petroleum product as it warned against the practice describing it as illegal.
The prices of gasoline and diesel fuel have increased globally as a result of the ongoing military conflict between Russia and Ukraine which has affected supply chains.
Government in a statement noted that through the Ministry of Commerce and Industry, LPRC and other relevant agencies have been engaged with importers for adjustment in the pump price of diesel fuel and gasoline to account for the current increase on the international market to ensure availability and avoid loss to the importers.
An arrangement, it said has been agreed with the importers that will ensure continuous lifting of petroleum products for the various filling stations while discussions continue to conclude on a new pricing structure.
“The public is therefore assured that gasoline and fuel will be available at the major filling stations as the importers lift their products throughout the weekend.
The Ministry of Commerce and the LPRC will remain engaged with the Importers to derive a mutually acceptable price structure for the petroleum products in light of the global increase in the prices of petroleum products, the government statement concluded.
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