The Government of Liberia (GoL) through the Ministry of Commerce and Industry (MOCI) and the Liberia Petroleum Refining Company (LPRC) announced on Monday, January 7, with immediate effect the reduction in prices of gasoline and diesel fuel on the Liberian market.
Minister of Commerce and Industry (MOCI) Wilson Tarpeh made the assertion in Monrovia, when he indicated that gasoline is now reduced from US$3.70 to US$3.30 or its Liberian dollar equivalent, while diesel (fuel) has been dropped from US$3.95 to US$3.70 or its Liberian dollar equivalent in line with the Central Bank of Liberia’s (CBL) rate.
According to Minister Tarpeh, the new petroleum prices reduction takes effect today, Tuesday, January 8, 2019 and calls on the public to report anyone caught selling petroleum product higher than the government’s set prices.
He said the ministry’s Inspectorate Department will closely monitor the approved ceiling prices, to avoid an arbitrary hike in the pump prices of gasoline and diesel fuel on the local market.
Minister Tarpeh said the decision to reduce the prices of gasoline and diesel fuel is as a result of the current prices on the world market.
Meanwhile, Minister Tarpeh also highlighted several developments achieved since taking over the ministry in February of 2017, including setting the standard of goods and services in the country.
“For us to achieve this, we sorted the market to ensure that those unwanted goods do not reach to the public because the president believes that the health of the people is paramount. We were successful due to the reactivation of the inspectorate division of the ministry and recruited people with strong abilities and passion,” Mr. Tarpeh said.
He said the ministry has put in place a system to allow business owners to report about expired goods, which continue to work for the ministry and businesses in disposing of such goods. “We now have compliant business environment and now we are informed when goods will be expired,” he said.
Minister Tarpeh said as part of the Pro-Poor Agenda for development and prosperity, while taking over the ministry he decided to develop a structure where Liberians will be first in terms of Liberia’s commerce activities, to ensure that the president’s dream of bringing Liberians from the spectator position to the playing field is accomplishment.
According to him, they also plan to ensure the integrity of the Ministry of Commerce (MoC) is maintained and consolidated, to ensure public confidence in the activities of the ministry.
Minister Tarpeh said the ministry has given out seven permits to Liberians, to import the country’s staple food, rice, into the country, an initiative that will bring competition in the importation of rice.
“We first had four active importers of rice,” he said. “We have also limited the importation of goods being produced in the country, to enable local producers to have the space to sell. We have given permits to Liberians wanting to import onion and frozen food.”