MONROVIA, September 21, 2026 — The Liberia Petroleum Refining Company (LPRC), in collaboration with the Ministry of Commerce and Industry, has assured the public that the country has sufficient petroleum stocks and that measures are in place to prevent shortages amid disruptions in the international oil market.
The assurance comes as global oil markets remain under pressure from disruptions to crude production and petroleum shipments in the Middle East, including restrictions affecting major shipping routes.
LPRC said the situation presents significant challenges for oil-importing countries such as Liberia, which relies heavily on imported refined petroleum products.
The company said the government is monitoring developments and taking measures to prevent shortages, hoarding and unjustified price increases.
The Strait of Hormuz is one of the world’s most important oil transit routes, and disruptions have significantly reduced exports from Gulf producers.
The International Energy Agency (IEA) reported in its September 2026 Oil Market Report that Brent crude was trading at about US$105 per barrel at the time of its assessment, while Gulf oil exports in August were estimated at around 13 million barrels per day, nearly half their pre-war level.
The IEA also reported that global oil demand fell by 5.3 million barrels per day year-on-year during the second quarter of 2026, the first quarterly decline since the COVID-19 pandemic, as the conflict and higher energy prices affected consumption.
The World Bank has described the closure of the Strait of Hormuz as the largest oil-market disruption in history, estimating that global oil supply fell by 10.1 million barrels per day in March following attacks on energy infrastructure and restrictions on tanker traffic.
For Liberia, the international disruption presents a particular challenge because rising global petroleum prices can increase import costs and ultimately affect domestic fuel and transportation prices.
LPRC said the government is engaging petroleum importers, distributors and other industry stakeholders to maintain adequate supplies of gasoline and diesel across the country.
At a recent meeting with petroleum-sector stakeholders, authorities expressed concern over rising international prices while emphasizing the need to keep petroleum products available on the Liberian market.
According to LPRC, the government has adjusted the ceiling prices for gasoline and diesel to US$5.58 and US$6.05, respectively, reflecting prevailing international market conditions.
The company said petroleum products remain available at depots across the country despite the international market pressures.
“We are inspecting fuel stations and other points of sale to prevent hoarding, artificial shortages and price manipulation,” LPRC said.
The company said it would continue assessing international market conditions and take measures necessary to maintain supplies and protect the national interest.
As part of a longer-term effort to strengthen Liberia’s fuel security, LPRC said plans are underway for the construction of a 50,000-metric-ton petroleum storage facility.
The proposed facility is expected to increase the country’s petroleum storage capacity and improve its ability to withstand future international supply disruptions.
Despite LPRC’s assurances, uncertainty remains in the global petroleum market.
The IEA has warned that continued constraints on Gulf supplies and declining commercial inventories could place further upward pressure on international petroleum prices if disruptions in the Middle East persist.
LPRC, however, maintains that Liberia’s current petroleum stocks remain sufficient and that measures are in place to prevent domestic supply shortages.
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