Monrovia – The Ministry of Commerce and Industry, in consultation with the Liberia Petroleum Refining Company (LPRC), has issued its March 3, 2026, price circular, maintaining existing ceilings for petroleum products in both the wholesale and retail markets.
By Emmanuel Weedee-Conway
According to the circular, pump prices for gasoline (PMS) and fuel oil (AGO) remain unchanged in U.S. dollar terms despite volatility in the global petroleum market.
Retail prices are set at US$4.02 (LD$755) per gallon for gasoline, and US$4.33 (LD$810) per gallon for fuel oil.
The prices reflect the prevailing Central Bank of Liberia (CBL) exchange rate of LD$187.00 to US$1 and are based on last month’s average Platts benchmark.
Government Monitoring Global Situation
The announcement follows a high-level meeting between government regulators, petroleum importers, and industry stakeholders to assess the potential impact of escalating tensions in the Middle East on Liberia’s fuel supply and pricing structure.
Government officials acknowledged growing concerns over rising global petroleum prices but emphasized that mechanisms are in place to monitor developments and make adjustments only when justified by market realities.
Authorities assured the public that Liberia currently holds sufficient petroleum stock to meet domestic demand.
Contingency Plan in Place
The Government of Liberia disclosed that it has activated a comprehensive contingency plan designed to prevent sudden and unjustified price hikes.
Officials said they are working closely with importers and dealers to ensure that global market disruptions are not exploited to create artificial shortages or inflate prices beyond fair and necessary levels.
Global Conflict Driving Market Volatility
The latest price circular comes amid heightened geopolitical tensions in the Middle East, where ongoing hostilities have contributed to instability in global oil markets.
The conflict, involving the United States and Israel on one side and Iran on the other, has triggered missile exchanges and raised concerns about potential disruptions in the Gulf region — a critical hub for global oil production and distribution.
Despite these developments, Liberian authorities maintain that there is no immediate justification for an increase in domestic petroleum prices.
The government has reaffirmed its commitment to protecting consumers while ensuring market stability.
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