Monrovia - The Ministry of Commerce and Industry, in close consultation with the management of the Liberia Petroleum Refining Company, (LPRC) has announced that there will be reductions in the pump prices of gasoline (PMS) and fuel oil (AGO) by 12 cents and 15 cents respectively.

This means, the wholesale price for gasoline is US$3.88 cents and fuel oil are US$3.93 cents, while the pump price for gasoline is US$4.06 /L$345 and fuel oil are US$4.11 /L$350. There will also be a five Liberian dollar reduction in the price of fuel oil due to the exchange rate differential.

The reduction will take immediate effect on Monday, September 29, 2014. The circular was signed by the Minister of Commerce and Industry, Axel Addy and LPRC Managing Director, T. Nelson Williams, II. This is the second month in a row that the prices of gasoline and fuel oil have dropped.