President George Mannah Weah has announced the reduction of the prices of Gasoline on the Liberian market.
President Weah made the statement on Thursday July 19, 2018 at the turning over ceremony of the newly constructed annexes of Capitol Building in Monrovia.
The declaration was made as a result of the high increase in the prices of gasoline and petroleum products on the Liberian market. Such increments are making it difficult for citizens and residents to commute from one point of the country to another.
The current prices of petroleum product at Total and other fuelling Stations in the country is 3.69 cents or its equivalence in Liberian Dollars.
Nearly two months ago, the Liberian government announced, through the Ministry Commerce and Industry, in close consultation with the Liberia Petroleum Refinery Company (LPRC), an increment of US$20 cents in the price of both gasoline and diesel on the local market.
According to the pronouncement, the price of gasoline was US$3.43 and US$3.52 for diesel. The retail pump price for gasoline was set at US$3.61 or its equivalence of L$485; while for diesel, it is US$3.70 (L$495).
‘The President said he took the decision because of the high cost of transportation fares in Monrovia and its environs; this decision is expected to take effect on Friday, July 20, 2018.
Meanwhile, the Liberian Chief Executive, speaking today at the dedication of the two annexes of the Capitol Building in Monrovia urged members of the National Legislature to properly manage the facilities.
Erection of the annexes is to provide adequate offices for Lawmakers and their Staffers.
The two annexes were constructed at the cost of US$12.9 million.