Liberia Holds Fuel Prices Steady Despite Global Oil Volatility

Monrovia, Liberia - March 5, 2026 - The Ministry of Commerce and Industry, in collaboration with the Liberia Petroleum Refining Company (LPRC), has announced new price ceilings for petroleum products nationwide, maintaining current pump prices despite rising global oil market volatility.

Under the new pricing circular affecting wholesalers and retailers across Liberia, gasoline (PMS) will remain at US$4.02 (LD 755) per gallon, while fuel oil (AGO) will sell at US$4.33 (LD 810) per gallon, based on the Central Bank of Liberia's exchange rate of LD 187 to US$1. The Ministry stated that the pricing reflects last month's average Platts international benchmark.

The announcement follows consultations between government authorities, petroleum importers, and industry stakeholders to assess the impact of escalating global crude oil prices, particularly amid mounting geopolitical tensions affecting supply chains and maritime trade routes.

In its statement, the Ministry expressed concern over the steady rise in international petroleum prices but assured the public that Liberia currently maintains adequate and secure stock levels to meet domestic demand.

The government has also activated a contingency framework aimed at preventing artificial shortages, hoarding, and unjustified price hikes. Officials warned that regulatory mechanisms are in place to ensure that global disruptions are not exploited to the detriment of consumers.

Petroleum pricing remains a matter of significant national concern, as fluctuations directly impact transportation costs, food prices, electricity generation, and overall inflation. Analysts note that maintaining stable fuel prices is critical to protecting household incomes and sustaining economic recovery efforts.

The Ministry of Commerce reaffirmed its commitment to continuous monitoring of global oil trends and indicated that adjustments will be made only when necessary and in line with transparent market assessments.

As global energy markets remain volatile, the government's latest move signals an effort to balance consumer protection with economic stability in a highly import-dependent sector.

This article originally appeared on New Dawn.