“LPRC, Commerce Ministry Adjust Petroleum Prices”
Does the government (Ministry of Commerce and LPRC) have the “right” to set the price of other people’s private property (gasoline)? Absolutely not.
Price fixing is illegal in Liberia! (RE “LPRC, Commerce Adjust Petroleum Prices”)
The Liberian government has NO “right”, I repeat, has NO right,, to set the price of gas OWNED by someone else!
That’s a misuse of the government’s police power and it’s also immoral do something like that to anybody!
Private property means that goods and services belongs to the OWNER, and not the government!
If the government wants to sell gas, let them open their own damn gas station and sell it to the public, at whatever price!
But please, please stop using the government’s police power to FORCE private citizens to sell below whatever the market will bear!
By the way, price controls have a centuries-long track record of creating worse problems than they solve.
In 1979, the American Government (Carter Administration) instituted price controls to solve its gas shortage problem.
But guess what happened?? American citizens had to wait in long lines to buy gas.!
In Europe, Asia, Australia and North America, rent control led to housing shortages!
In the 17th, 18th and 20th century, price controls on food led to hunger and starvation in Italy, India and Russia!
It’s time for the economically illiterates in the Liberian Government to abandon its economically disastrous Price Control Policy!