HomeAfrican NewsMinistry of Commerce & Industry & Liberia Petroleum Refining Company (LPRC) Issue...

Ministry of Commerce & Industry & Liberia Petroleum Refining Company (LPRC) Issue New Price Circular to Stabilise Fuel Costs Amid Global Petroleum Market Turbulence

Ministry of Commerce & Industry & Liberia Petroleum Refining Company (LPRC) Issue New Price Circular to Stabilise Fuel Costs Amid Global Petroleum Market Turbulence

BY: Rufus Divine Brooks Jr.
WhatsApp: +231775143511

Monrovia, Liberia – In close coordination with the Liberia Petroleum Refining Company (LPRC), the Ministry of Commerce and Industry Tuesday released a price circular that sets new ceiling prices for petroleum products in both the wholesale and retail sectors.

The circular, effective immediately, aims to protect Liberian consumers and businesses from volatile global price swings while ensuring a steady supply of fuel nationwide.

Key Highlights of the Circular

Product-Wholesale Ceiling (USD)-Retail

Pump Price (USD) Retail Pump Price (LD)
Gasoline (PMS) Unchanged* US$ 4.02 LD 755
Fuel Oil (AGO) Unchanged* US$ 4.33 LD 810

According to them, Wholesale ceilings remain unchanged in U.S.‑dollar terms, reflecting the latest average Platts prices for March 2026.

The retail price figures incorporate the current Central Bank of Liberia (CBL) exchange rate of LD 187.00 = US$1.

Prices are based on the average Platts indices for the month of February 2026 and will be reviewed monthly in line with market developments.

At a high‑level meeting held on 3rd March 2026 with importers, distributors and other petroleum‑sector stakeholders, the Government expressed grave concern over the rapid escalation of petroleum product prices worldwide.

The Ministry underscored its commitment to continuously monitor global price movements and exchange‑rate fluctuations, adjust ceilings promptly when market conditions warrant, ensuring transparency and fairness.

The Ministry, together with LPRC, has however activated a comprehensive contingency plan designed to prevent sudden or unjustified price spikes that could arise from supply shocks or market manipulation.

Rufus Divine Brooks, Jr.
Rufus Divine Brooks, Jr.
Rufus Divine Brooks Jr. is an independent Liberian journalist with more than 7 years of experience across print, radio, and television media. Known for accountability-driven reporting and clear, audience-focused storytelling, he currently serves as News Director at KMTV Liberia and Chief Executive Officer of Voice of News in Liberia [VON], a digital news platform. Career Experience: Brooks has held key editorial and production roles throughout Liberia’s media landscape: 1. Head of Television & Reporter, Prime FM 105.5 — Led TV content operations while reporting on politics, governance, and human interest. 2. Promotional Manager, TunesLiberia — Managed media partnerships and promotional campaigns for Liberian entertainment and public affairs content. 3. Correspondent, Bassa FM, Grand Bassa County — Provided county-level coverage on development, infrastructure, and community issues outside Monrovia. 4. News Desk Editor & Senior Reporter, Kear Radio 95.9, Monrovia — Coordinates daily news output and produces in-depth analysis on national policy and social issues. 5. Contributor, FrontPage Africa & Verity Newspaper — Writes for two of Liberia’s leading independent dailies, focusing on political accountability, diplomacy, and sports. Professional Affiliations & Standards: A full member of the Press Union of Liberia [PUL], Brooks adheres to ethical journalism standards emphasizing accuracy, balance, and the right of reply. His editorial approach prioritizes context, verification, and giving communities a voice in national debates. Coverage & Notable Work: His reporting portfolio spans: • Governance & Diplomacy: Coverage of Liberia’s leadership roles on United Nations sanctions committees and foreign policy milestones. • Politics & Elections: On-the-ground reporting during national elections and analysis of legislative developments. • • Human Interest & Development: Stories highlighting infrastructure projects, public health, education, and climate resilience at county level. Brooks is also active on digital platforms, where he provides timely updates and contextual analysis to a growing audience. Leadership & Current Role: As News Director of KMTV Liberia, he oversees editorial strategy, mentors young journalists, and ensures balanced coverage of government, opposition, and civic voices. Through Voice of News and other platforms in Liberia, he expands access to independent news and promotes media literacy. Contact WhatsApp: +231 775 143 511 Motto: “Ask the question. Get the record. Tell the story.”
RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Recent Comments