IPNEWS: The Ministry of Commerce and Industry, in close consultation with the Liberia Petroleum Refining Company (LPRC), has issued the March 3, 2026 price circular establishing new petroleum product ceilings for both wholesale and retail markets.
Under the new circular, fuel prices for gasoline (PMS) and fuel oil (AGO) will remain unchanged in U.S. dollar terms. Retail pump prices are set at US$4.02 (LD 755) for gasoline and US$4.33 (LD 810) for fuel oil, reflecting prevailing exchange rate adjustments (CBL rate: LD 187.00 = US$1). The prices indicated are reflective of last month’s average Platts.
In a meeting with importers and petroleum stakeholders to assess the impact of the ongoing crisis in the global petroleum market, the Government noted with grave concern the rising prices of petroleum products around the world and has taken steps to ensure that the relevant government functionaries continue to monitor the situation and make necessary price adjustments based on existing market conditions.
Meanwhile, the Government of Liberia, through the Ministry of Commerce and Industry and the Liberia Petroleum Refining Company (LPRC), wishes to assure the public that the country holds a significant and secure stock of petroleum products.
Consequently, the Government has aligned a comprehensive contingency plan to avert any sudden or unjustified price spikes and is working closely with importers and dealers to ensure that the global situation is not exploited to create artificial shortages or increase prices beyond what is fair and necessary.
