Liberia: Gov’t Warns Against Unauthorized Petroleum Price Hikes

IPNEWS: The Government of Liberia has issued another stern warning to individuals and businesses planning to increase the prices of petroleum products amid the ongoing global energy crisis.

Speaking at a Ministry of Information press conference, Information Minister Jerolinmek Piah stated that the Liberian government is closely monitoring global trends to ensure that the impact of international conflicts on local economic activities remains manageable.

Minister Piah clarified that while petroleum and other essential goods are currently available in the country, the government cannot fully control prices because they are dictated by global market activities.

“If a barrel of crude oil is $100, that determines what the market price is at that time”, the Minister explained. “If it rises to $200, the price must be adjusted because those who import these petroleum products must  have bought them at higher rates”.

The Minister emphasized that regardless of the fluctuating costs of petroleum, the government’s primary commitment is to ensure availability. He noted that the administration is working closely with importers to ensure that the supply chain remains steady and that essential goods remain on the track for consistent delivery.

Minister Piah made it clear that the Government of Liberia will not tolerate anyone creating artificial scarcity. He warned that any petroleum operators caught hoarding products or creating a false shortage will face severe consequences, including the revocation of their operational licenses.

To enforce this, a monitoring team will be deployed across various parts of the country. The team is tasked with inspecting storage facilities and filling stations to ensure compliance with petroleum regulations.

The information minister assured the public that the Liberia Petroleum Refining Company (LPRC) currently has sufficient petroleum products in the country. He added that ongoing efforts are being made to secure even more supply to meet the consumption needs of vehicle owners and other petroleum users.