MONROVIA – The Government of Liberia(GoL) has announced that while it is making efforts to ensure the steady supply of essential commodities amid the ongoing tensions involving the United States, Israel and Iran, it cannot guarantee control over rising prices on the local market.
By J.H. Webster Clayeh – websterclayeh@frontpageafricaonline.com
Speaking Tuesday during the Ministry of Information’s regular press briefing, Information Minister Jerolinmek Matthew Piah acknowledged mounting economic pressure, noting that both economic and commercial activities are being affected by the global crisis.
“As the global situation is ongoing with regard to the war in the middle east, as a country we continue to thread very carefully so that the repricution on our own economic and other activities are consistently in tight,” Minister Piah said.
He emphasized that while the government is focused on maintaining supply chains, pricing remains outside its control due to international market dynamics.
“With keeping of petroleum products and other essential goods available, what we could not able to control will be pricing because these are the global marketing activities,” Minister Piah warned.
In a stern warning to petroleum dealers, Minister Piah disclosed that the government will take decisive action against businesses engaged in hoarding or manipulating supply to inflate prices.
He stressed that authorities are aware of tactics used by some dealers to create artificial scarcity for profit. “We are keeping petroleum products and other essential goods available. We are working with all the importers to make sure we remain on track but what we will not tolerate for an inch is —no one will be allowed to create a situation of scarcity,” the Information Minister said.
According to him, despite global pressures on oil prices, Liberia currently has sufficient stock to meet domestic demand.
A recent circular issued by the Liberia Petroleum Refining Company updated petroleum prices, listing gasoline (PMS) at US$4.87 (L$910.00) and diesel at US$5.78 (L$1,080.00).
Minister Piah confirmed that the Liberia Petroleum Refining Company, in collaboration with the Ministry of Commerce and Industry’s Inspectorate Division, has begun nationwide inspections.
The exercise, he noted, will specifically target filling stations reportedly closed to the public despite having fuel in stock, as part of efforts to prevent exploitation and ensure availability.
