LPRC condemns petroleum price hike

The Liberia Petroleum Refining Company or LPRC strongly condemns the hike of gasoline and fuel products on the Liberian market by commercial drivers and other local operators.

The LPRC says the act is being done to satisfy personal interest, and undermine efforts of the government, which causes problems for consumers. In a statement issues over the weekend, the management of the Liberia Petroleum Refining Company says it is concern about reports in the public by some unscrupulous individuals that there is shortage of petroleum products in the Liberian market, which has led to hiking of transportation fares and gasoline prices.

“The management would like to inform the general public that the information being propagated in the public about the shortage of petroleum products on the Liberian market is far from reality, and it has no flavor of truth”, the LPRC clarifies.

The entity discloses that there are over 30,000 metric tons of mixed petroleum products in its shore tanks that it thinks is capable of sufficiently serving the Liberian market for the next two months.

Management says though it may not know the actual intend of individuals involved in spreading falsehood about the shortage of gasoline here, it is working along with officials of the Ministry of Commerce and Industry to advert any attempt by filling stations or individuals to hoard petroleum products in order to create artificial shortage and hike the prices.

Meanwhile, the management of the LPRC is encouraging the general public to report any individuals or filling station caught selling petroleum products above the approved pump price of $US 3.25 or its Liberian dollar equivalent of LDR 400.00 per gallon of gasoline, and $US 3.31 or its Liberian dollar equivalent of LRD 410.00 per gallon of fuel oil.

At the same the LPRC calls on citizens not to panic, assuring that there are sufficient gasoline and fuel in the country to serve the public. Commercial drivers here are hiking fares as a result of filling stations creating artificial shortages and increasing pump prices of petroleum products.

By Lewis S. Teh-Editing by Jonathan Browne