The Ministry of Commerce and Industry, in consultation with the Liberian Petroleum Refining Company (LPRC), says there is no change in the US Dollar price of gasoline (PMS) and Fuel oil (AGO) on the Liberian market.
According to a Commerce Ministry release, the only exception is the Liberian Dollar (L$) component, due to the exchange rate.
This means that wholesale selling price for gasoline is US$3.12, while fuel oil (AGO) is US$3.52.
Retail pump price for gasoline is US$3.30 or LD $595.00, while retail pump price for fuel oil (AGO) is US$3.70 (US three dollars seventy cents or LD $665.00.
The exchange rate used in the current monthly Price Circular on Petroleum Products is US$1 to L$180.00.
The Inspectorate Team at the Commerce Ministry will be closely monitoring the approved ceiling prices to avoid arbitrary hike in the pump prices of gasoline and fuel oil on the local market.
In addition, the effective nature of the price circular will be monitored to ensure that importers do not undercut fellow competitors on the local market.