- Search Results
 
 
Gov’t Announces New Price Ceilings For Petroleum Products
Date Uploaded: Aug 11, 2016

Montserrado County Flag
 

 

Gov’t Announces New Price Ceilings For Petroleum Products

MONROVIA, August 10 (LINA) – Government through the Liberia Petroleum Refining Corporation (LPRC) and Commerce Ministry has announced a reduction in the prices of petroleum products on the market.

According to a price circular issued by the government, the retail pump price for a gallon of gasoline has been reduced from US$3.06 to US$ 2.91, or its Liberian dollar equivalent of L$275, while the retail pump price for a gallon of diesel fuel has been reduced from US$3.08 to US$2.98 or its Liberian dollars equivalent of L$280.

According to the price circular, the new price ceiling for petroleum products took effect as of August 1.

It said the Liberian dollar component was calculated using the Central Bank of Liberia approved exchange rate of US$1 to L$94.

It noted that the decision to reduce the prices of petroleum products came as a result of the downward shift in the perimeter that is usually used to determine the prices of products in the country.

Meanwhile, the Ministry of Commerce has said that it will closely monitor the approved ceiling prices through its Inspectorate Department to avoid the arbitrary hike in the pump prices of gasoline and fuel on the local market.

The Ministry said it will also closely monitor the effectiveness of the price circular to ensure that importers do not undercut competitors on the market.
LINA PR/DMW/WSG/TSS/PTK


 

latest headlines
‘Decentralizatio One Of Biggest Legacies Of Gov’t’ - Official
Deputy Internal Affairs Minister Varney Sirleaf has described the decentralization program as one of the biggest legacies of the Ellen Johnson Si ...more
Tulay Vows To Ensure Independent LWSC County Sub-Stations
The Managing Director of the Liberia Water and Sewer Corporation (LWSC), N. Hun-Bu Tulay, has promised to ensure that all county stations of the ...more
Supreme Court To Hear Argument in Sable Mining Case Friday
The Supreme Court of Liberia will begin hearing argument in the petition for the Writ of Certiorari filed against Judge Yamie Q. Gbeisay, assigne ...more
LWSC Boss Hails AfDB For US$8.3m To Rehabilitate Water Plant
The Managing Director of the Liberia Water and Sewer Corporation (LWSC), N. Hun-Bu Tulay, has hailed the African Development Bank (AfDB) for maki ...more
AU Envoy Presents Accreditation To FM Kamara
Foreign Minister Marjon V. Kamara has received the Letters of Accreditation from the new Head of the African Union Liaison Office in Liberia, Mr. ...more
Gov’t Promises To Continue Robust Fight Against Fistula
The Liberian Government has promised to robustly continue the fight against Fistula in the country. ...more
 
All rights reserved © 2013 - 2014
Liberia News Agency