Petroleum Market to Be Decentralized

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The Managing Director of the Liberia Petroleum Refining Company (LPRC), T. Nelson Williams, has said his administration will decentralize the petroleum market in all 15 counties.

Mr. Williams gave the assurance recently in Monrovia at a program held in his honor by the Petroleum Importers Association of Liberia (PIAL).

According to him, decentralization of the petroleum market in the country will lead to adequate supply of products to all 15 counties in order to reduce prices and keep them stable.

Taking a cue from the maxim that Monrovia alone is not Liberia, Mr. Williams said decentralization will lessen the burden on leeward customers in the price of the commodity and is one of the major initiatives that he is prioritizing.

Mr. Williams said that the number of Liberian petroleum importers has increased by 35 percent since 2010. When he took over as a managing director in 2010 he said Liberian importers accounted for 30 percent of the market, but that figure jumped to 65 percent in 2014 because of several new marketing methods his administration introduced.

More Liberian importers are also building and upgrading their filling stations in and out of Monrovia, “because LPRC has made it a requirement for importers of petroleum products to spread the commodity across the country,” said MD Williams.

“We have to open our country; we are looking forward in the near future by 2015 to 2016 to explore every opportunity to provide storage capacity that will reduce the cost per gallon of petroleum products in the rural areas,” he said.

 He stated further that there is storage capacity for 6.2 million metric tons of petroleum products at LPRC and importers can now bring in larger quantities of petroleum products.

Earlier, the acting president of the Petroleum Importers Association of Liberia, Musa Bility, lauded the LPRC management and the Board of Directors for supporting Liberian petroleum importers.

 He said the initiative to reduce petroleum prices has challenged importers to play a meaningful role to ensure constant supply of the product on the market.

He indicated that since 1947 when the facility was constructed, the current administration has so far been the one that has alleviated storage constraints.

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