Monrovia, Liberia – A new price rise for petroleum products has been issued nationwide by Liberia’s Ministry of Commerce and Industry, which has alarmed businesses, drivers, and ordinary individuals who are already having trouble keeping up with the rising cost of life.
The Ministry announced price increases for petrol, fuel oil and aviation fuel on the Liberian market in a petroleum price circular issued on March 14, 2026, after consulting with the Liberia Petroleum Refining Company. The retail pump price of petrol (PMS) has gone up by US$0.85 under the new pricing structure, making it US$4.87 a gallon, or L$910.00. Additionally, the retail price of fuel oil (AGO) has increased by US$0.90, to US$5.78 or L$1,080.00 a gallon.
Wholesale prices have been raised. Fuel oil will now sell for US$5.50 at the wholesale level, while petrol will sell for US$4.59. A significant increase in aircraft fuel was also announced by the government. The new selling price of the Jet A-1 is now US$7.57 after an increase of US$2.65.
According to representatives of Liberia’s Ministry of Commerce and Industry, the changes were made to reflect current domestic and international market conditions after consulting with the Liberia Petroleum Refining Company’s management.
At the same time, the Ministry cautioned dealers and importers of petroleum against manipulating prices above the authorized ceilings. It said that in order to guarantee full adherence to the new price regime, its inspectorate team will be stationed throughout the nation.
“The Inspectorate Team of the Ministry will closely monitor the approved ceiling prices to avoid arbitrary hikes at the pump and to ensure that importers do not undercut competitors or hoard petroleum products on the market,” the statement noted.
Amos B. Tweh, the managing director of the Liberia Petroleum Refining Company, and Commerce Minister Magdalene Ellen Dagoseh have approved the price modification, which goes into effect right away. According to authorities, the updated pricing structure was calculated using the L$187 to US$1 exchange rate that the Central Bank of Liberia published on February 13, 2026.
According to economic analysts, these increases frequently have a knock-on effect on the entire economy, especially on transportation expenses, the production of power, and the costs of products and services in Monrovia and other regions of the nation. The government insists that the price circular is a component of its larger strategy to ensure fair competition among gasoline importers and stabilize the petroleum market.
Reported by: Prince Saah
