The Ministry of Commerce & Industry (MoCI), in consultation with the management of the Liberia Petroleum Refining Company (LPRC), has announced a decrease in the price of Fuel Oil (AGO) by ten United States cents (US$0.10) per gallon.
According to the announcement, the price reduction applies only to diesel fuel, while the price of Gasoline (PMS) remains unchanged.
This adjustment means that consumers in Liberia will now pay ten cents less per gallon for diesel fuel, while the price of gasoline at the pump remains the same.
The MoCI and LPRC Inspectorate Team have stated that they will closely monitor compliance with these approved prices to prevent any arbitrary increases in the pump prices of both gasoline and diesel on the local market.
This decision by the Liberian government is aimed at providing some relief to consumers, particularly those who rely on diesel-powered vehicles or equipment. The reduction in diesel fuel price is expected to have a positive impact on the overall cost of living and transportation in the country.
The announcement comes at a time when many countries around the world are grappling with fluctuating fuel prices due to various global economic factors.
The MoCI and LPRC have assured the public that they will continue to monitor the fuel market and make necessary adjustments to ensure that consumers in Liberia are not subjected to unjustified price hikes.
