GoL Warns Against Price Exploitation Amid Increase in Cost of Petroleum Products

Monrovia, Liberia: The Liberian government has sent a strong caveat amid the increase in prices of petroleum products in the country, stating it will not hesitate to take punitive action against individuals caught exploiting its approved prices for gasoline and fuel oil on the local market.

Recently, the government, through the Liberia Petroleum and Refining Company (LPRC) and the Ministry of Commerce and Industry, announced a hike in petroleum prices.

This increase affected the price of a gallon of gasoline from about LD$650 to LD$910, while a gallon of fuel oil shifted from around LD$860 to LD$1080.

The Liberian government attributed these price hikes to ongoing conflicts in the Middle East, noting that the issue is a global concern.

Information Minister Jerolinmek Piah stated that the government is investigating reports of some petroleum operators selling a gallon of gasoline for LD$950 or higher, above the set price limit.

Speaking during the Ministry's regular press briefing on Tuesday, March 17, 2026, Minister Piah said the government will revoke the. Operational licenses of any petroleum importers found creating shortages or taking advantage of the price increase.

"Any importers of petroleum products who try to create any symbol of artificial shortages, the LPRC has said, and that represents the position of the government. That, when you are caught your operational license will be revoked. This is an issue that we will not compromise," Minister Piah stated.

Additionally, the government’s spokesperson assured the public that, despite the price hike, they are committed to ensuring petroleum products remain accessible in the local market.

"This is a global crisis, and what we are trying to do is to navigate in a very successful way to have the products we need even if it is at a cost that is consistent. To have the products both in country and market," he explained.