The Liberian government through the Ministry of Commerce on has announced new increased prices of petroleum products just days after acute shortages on the market.
However, earlier at the weekend the Liberian authority denounced the shortage of the products, adding that products in the country can last for over three months. The government also alluded the latest increment to global price rise caused by the invasion of Ukraine by Russia.
What is the new price?
The Ministry of Commerce and the Liberia Petroleum Refinery Company (LPRC) announced an increment of US$1.16 on gasoline while diesel fuel has been increased by US$1.47. Its means, the retail price of gasoline is now US$5.66 (LRD$875) while diesel fuel is US$6.00 (LRD$930).
The ordinary citizens have decried the latest increment on grounds that it will greatly affect their income.
Darious Page, a 28 year-old commercial driver explained that the hike in increase in the price of gasoline is imposing more hardship as he cannot get more passengers to realize his daily income.
He said purchasing a gallon of gasoline for LRD$875 is too high to realize his income on the daily basic because many people now prefer not to travel to far away distances.
Abraham Kollie, 35 year old motorcyclist who usually rides between the Peace Island Community Junction to the community said before the new gasoline price jump he normally charge passengers for LRD$50 but he has now increase his fare to LRD$70.00.
The pinch of the latest price increase will greatly impact many commodity prices on the local market in Liberia because of high transportation fares.
