Monrovia, Liberia – September 10, 2025 – The Liberia Petroleum Refining Company (LPRC), in collaboration with the Ministry of Commerce and Industry, has announced a revised petroleum pricing and fee structure following a directive from President Joseph Nyuma Boakai, Sr. The policy aims to maintain affordable fuel prices for Liberians while generating revenue to support critical infrastructure projects, particularly the Road Fund.
According to an official LPRC circular dated September 5, 2025, the new pricing structure reduces storage fees payable to terminal operators from $0.35 to $0.05 per gallon. Simultaneously, the government has introduced additional technical charges—including inspectorate and maintenance fees ($0.06), vessel discharge fees ($0.08), and testing and handling fees ($0.07)—all of which are to be collected by the LPRC. Other components of the pricing structure include contributions to the Road Fund ($0.30), support for county road equipment ($0.09), social programs ($0.02), and profit margins for importers ($0.14), retailers ($0.20), and distributors ($0.05).
The directive emphasizes that importers and storage tank owners are responsible for remitting these fees to the LPRC, alongside royalty payments under existing agreements. LPRC Managing Director Amos B. Tweh stated that the adjustments are intended to “foster a stable, transparent, and efficient petroleum sector that contributes to the growth and development of our nation.”
In tandem with the revised fee structure, the Ministry of Commerce and Industry released its September 6, 2025, Petroleum Products Monthly Price Circular, setting new wholesale and retail prices for petroleum products effective September 8. Gasoline (PMS) now has a wholesale price of $3.74 per gallon and a retail pump price of $4.02 (approximately LD805.00), while fuel oil (AGO) has a wholesale price of $4.05 and a retail pump price of $4.33 (approximately LD865.00). The ministry noted that these prices reflect reductions of seven cents per gallon for gasoline and ten cents per gallon for fuel oil, aimed at easing costs for consumers.
While the government frames these policies as steps to stabilize the market and protect consumers, private sector stakeholders have voiced strong opposition. Hon. Musa Hassan Bility, legislator for District 7 in Nimba County and owner of Srimex Oil and Gas Company, criticized the government for effectively diverting revenue from Liberian terminal operators to the LPRC.
“The intent of the Government’s action is to divert money away from Liberian terminal operators and redirect it to LPRC, with the effect of weakening Liberian ownership and silencing Liberian innovation,” Bility said in a press statement. He warned that the combination of reduced storage fees and new technical charges threatens the viability of Liberian-owned petroleum terminals.
Bility, whose company has operated in Liberia for over 15 years, stressed that the petroleum terminal sector is one of the few fully Liberian-owned segments of the economy. Investments made by operators like Srimex have created jobs, ensured consistent fuel availability, and strengthened the national economy. “No responsible government policy would sacrifice the growth and sustainability of Liberian businesses under the pretense of price relief,” he said.
The legislator called on the government to halt the current policy, engage terminal operators in transparent consultations, and implement reforms that genuinely support Liberian businesses. He emphasized that ensuring a stable, competitive, and locally owned petroleum market is critical for long-term economic growth and energy security.
Meanwhile, the Ministry of Commerce and Industry said it will closely monitor the new retail price ceilings to prevent arbitrary hikes and ensure fair competition among importers. Using the Central Bank of Liberia’s September 4 exchange rate of LD200.00 to US$1, the ministry reiterated that the reduced pump prices are intended to benefit consumers while maintaining the sustainability of the sector.
The ongoing debate highlights the delicate balance between government-led efforts to control fuel costs and the private sector’s drive to maintain independent, locally owned petroleum operations. Analysts warn that failure to address these concerns could undermine investment, job creation, and the stability of the petroleum supply in Liberia.
As Liberia navigates this new petroleum pricing landscape, collaboration between government authorities and private operators will be key to ensuring that affordable fuel reaches consumers while safeguarding the future of Liberian-owned petroleum businesses.