GOL OF LIBERIA SETS NEW PETROLEUM PRICES

Monrovia, June 8, 2022: The government of Liberia has reached an agreement with petroleum importers and distributors in the country on a new price structure for gasoline and diesel fuel on the Liberian market. This follows official requests by the importers to the government for an increase in the price of the commodities in order to offset the cost they endure on the international market due to the Russian-Ukraine crisis.

Following long hours of negotiations, it has been agreed that U.S. $0.80 cents will be added on to the current retail price of gasoline, thus increasing the cost from U.S.$5.10 to U.S.$5.90. Diesel fuel will now be sold at the pump price of U.S.$6.90 from its previous price.

Importers and distributors have agreed to immediately begin lifting their products from the Liberia Petroluem Refining Company’s storage facility to filling stations as of June 8, 2022.

The government wishes to emphasize that it has acted throughout the apparent impasse in the best interest of ordinary people, as it insists on keeping price affordable. As a result, the governnemnt strenuously resisted initial suggestions from some importers for an increment of more than U.S. $1.00.

The new deal should help alleviate the difficulty many Liberians have had to go through in the last few days, while the product is made affordable and available.

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