MONROVIA – The Government of Liberia, through the Ministry of Commerce and Industry in collaboration with the Liberia Petroleum Refining Company (LPRC), has announced a reduction in the prices of petroleum products across the country, effective Monday, September 8, 2025.
According to the Ministry, the price of Heavy Fuel Oil (HFO) has dropped by US$45.72, bringing the new selling price to US$962.16 per metric ton. The price of Jet A-1, commonly used in aviation, has also seen a reduction of US$0.28, setting the new market price at US$4.68. Additionally, the price of fuel oil (AGO) has been reduced by US$0.10, while gasoline (PMS) decreased by US$0.07, with the retail pump prices now standing at US$4.33 or LRD 865.00 for gasoline and US$4.02 or LRD 805.00 for fuel oil, based on the Central Bank of Liberia’s September 4 exchange rate of LRD 200 to US$1.
Commerce Minister Magdalene Ellen Dagoseh and LPRC Managing Director Amos B. Tweh jointly signed the circulars, noting that the reductions are aimed at easing economic pressure on consumers. The Ministry stressed that its Inspectorate Team will be monitoring stations across the country to ensure compliance with the approved ceiling prices and to prevent arbitrary hikes at the pumps.
In addition to the new price ceilings, the LPRC has introduced a set of fee collection guidelines for petroleum importers and terminal operators. These guidelines, which take immediate effect, are backed by an executive mandate from President Joseph Nyuma Boakai.
Under the new framework, LPRC has been designated as the sole authority to collect fees from private terminal owners. The fees include inspectorate charges, vessel discharge fees, testing and handling fees, royalty payments, and adjusted storage charges. Importers are required to make payments by check or electronic transfer directly to LPRC’s designated accounts, with cash deposits permitted only through official banking channels. Proof of payment must be submitted to LPRC’s Finance Department for verification.
The guidelines stipulate that 50 percent of invoices must be settled within seven days, with the balance due after fifteen days. Late payments will attract penalties of 1.5 percent within the grace period and 5 percent thereafter. Terminal operators are also required to keep transaction records for at least five years and make them available to inspectors upon request.
Furthermore, importers must secure written approval from LPRC before bringing petroleum products into the country, including an approved laycan to be verified by terminal owners before storage. Non-compliance will be met with escalating penalties, ranging from written warnings to suspension of operations and eventual revocation of licenses.
The Ministry and LPRC emphasized that the dual move of lowering petroleum prices while tightening importation and fee collection rules seeks to stabilize the market, prevent undercutting among importers, and ensure that government revenues from petroleum operations are effectively managed.
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