FOR IMMEDIATE RELEASE
Monrovia, Liberia- September 11, 2025- The Liberia Petroleum Refining Company (LPRC) wishes to inform the public of adjustments to the petroleum pricing structure following recommendations by the Liberian Senate and a subsequent directive from the Presidency.
A public hearing convened by a joint Senate committee comprising the Committees on Ways, Means, Finance & Budget and Public Accounts on State-Owned Enterprises engaged multiple stakeholders in the downstream petroleum sector, including the Managing Director of LPRC, to assess the fairness of the existing petroleum pricing structure. The joint committee submitted a detailed report to the Plenary of the Senate, which reviewed and deliberated on the findings before forwarding recommendations to H.E. President Joseph Nyuma Boakai.
After reviewing the Senate’s recommendations, the Presidency issued a directive to the Management of LPRC to implement the following adjustments to the petroleum pricing structure:
- Remove the previous financing cost and create a new line item titled “Support to Government Social Programs” at $0.02 per gallon.
- Create a new line item titled “Support to County Equipment” at $0.09 per gallon.
Combined, these new lines equal $0.11 per gallon. Based on the annual import volume of 154,652,417 gallons, the adjustment is projected to generate an estimated US$17.01 million (approximately US$17 million) in additional revenue to support social programs and county equipment needs.
The President’s directive reflects two central government priorities: (1) preserving low fuel prices for consumers, and (2) mobilizing resources to address critical national infrastructure and county-level equipment needs. In light of a serious decline in international development assistance (IDA), these new revenue lines provide a sustainable, domestic source of funding for priority programs.
Importantly, these measures do not affect the commercial margins of market participants. Margins remain unchanged as follows:
- Importers’ Margin: $0.14 per gallon
- Distributors’ Margin: $0.05 per gallon
- Retailers’ Margin: $0.07 per gallon
The Liberia Petroleum Refining Company affirms its commitment to transparency, fairness, and accountability in the petroleum sector while supporting national efforts to mobilize resources for development. LPRC will continue to work with all stakeholders to ensure the smooth and timely implementation of the presidential directive.
