Gov’t. Maintains March Fuel Prices

The Ministry of Commerce and Industry, in consultation with the Liberia Petroleum Refining Company, releases its March 2026 petroleum product price circular, maintaining current wholesale and retail prices for gasoline and fuel oil in United States dollar terms.

According to the circular, the retail pump price for gasoline remains at US$4.02, equivalent to LD 755, providing stability for motorists and commercial transport operators across the country.

Fuel oil is set at US$4.33, or LD 810, reflecting exchange rate considerations while preserving the existing pricing structure in U.S. dollar terms.

Authorities explain that the pricing decision aligns with prevailing foreign exchange dynamics and aims to cushion consumers from abrupt domestic market fluctuations.

In a formal release, the government acknowledges public concerns about rising global petroleum prices and their potential ripple effects on Liberia’s energy market.

Officials state that the Ministry and the LPRC closely monitor international petroleum benchmarks and shipping costs to assess possible future adjustments.

The government emphasizes that the current decision reflects a careful balancing of consumer protection and market sustainability.

Amid speculation about possible supply disruptions, authorities assure the public that Liberia maintains adequate petroleum stock levels to meet national demand.

The LPRC confirms that existing inventories and scheduled shipments provide sufficient coverage to prevent supply gaps in the short term.

Officials further disclose that a contingency framework is operational to prevent unjustified price hikes within the domestic market.

The plan includes regulatory oversight mechanisms designed to deter artificial shortages and speculative practices by unscrupulous actors.

The Ministry reiterates that price stability remains a priority as part of broader efforts to protect household incomes and support economic activity.

Importers and petroleum dealers are urged to comply strictly with the approved pricing structure outlined in the March circular.

The government pledges continued collaboration with industry stakeholders to sustain transparency and accountability within the downstream petroleum sector.

Authorities underscore that maintaining stable pump prices helps stabilize transportation costs and, by extension, the prices of essential goods and services.

The Ministry notes that it remains responsive to global oil market shifts and stands ready to implement adjustments should international conditions warrant review.

Consumers are encouraged to report any instances of overpricing or hoarding to the appropriate regulatory bodies for prompt intervention.

With the March 2026 circular now in effect, the government signals its commitment to fair pricing, adequate supply, and sustained stability in Liberia’s petroleum market.