Petroleum Pump Prices Drop

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Barely two month in a row that the pump prices of gasoline and fuel oil were reduced across the country, the Ministry of Commerce and Industry in consultation with the management of the Liberia Petroleum Refining Company (LPRC), has announced that there will be reductions in the pump prices of gasoline (PMS) and fuel oil (AGO) by US$12 cents and US$15 cents respectively.
 The pronouncement, which took effect immediately as of yesterday Monday, September 29, 2014, according to an LPRC statement, means the wholesale price for gasoline is now put at US$3.88 cents, and fuel oil is US$3.93 cents, while the pump price for gasoline is US$4.06 or its Liberian dollar equivalent of L$345, and fuel oil is US$4.11 or the equivalent of L$350.

At the same time, the statement said that due to the foreign exchange rate differential on the market, there will also be a five Liberian dollars reduction in the price of fuel oil.

 An LPRC statement announcing the reduction in the prices of the petroleum products was signed by the Minister of Commerce and Industry, Axel Addy, and LPRC Managing Director, T. Nelson Williams, II.

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