LPRC, MOC Issues Reduction in Prices of Petroleum Products.

Release: 

Monrovia: The management of the Liberia Petroleum Refining company LPRC in collaboration with the ministry of commerce has with immediate effect issued a reduction in the prices of petroleum products on the Liberian market.

This comes following false and misleading information emerging from some individuals on various social media platforms on ground that there is an increment in the prices of petroleum products.

Highlighting the price circular which shows the reduction in the prices of petroleum production, the company outline the price of gasoline which was US$ 4.47 is now US$4.43 while the price of diesel which was US$5.23 is now US$ 5.01.

At the same time, the management of the Liberia Petroleum Refining Company and Commerce Ministry has implemented a policy as means of closely monitoring the approved ceiling prices to avoid arbitrary hikes in the pump prices of petroleum products.

The circular further warned that the LPRC and the MOC will close monitor the effectiveness of the price circular to ensure that importers do not undercut fellow competitors on the market.