Petrol Price Soaring On The Market -As Govt. says Enough Product In Town

Despite assurances from the Government of Liberia through the Ministry of Commerce and Industry that there are enough petroleum products on the market, there seems to be serious scarcity on the market that has soared the price upward from LD680 to up to LD1400 per gallon at the retailing market as  many filling stations are not dispensing the products.

The latest development which has sent panic among the citizens knowing very well that the impact of the scarcity or non-availability of the product on the market has a devastating effect on the living condition of the people, are not taking the statement from the government as a reliable information with the scarcity from the regular sources and the only reliable means now has been the unofficial market with its attendant increase in the price of the product.

In a press release issued over the weekend, the Ministry of Commerce and Industry said earlier this year the Ministry informed the general public that in the midst of disruptions to the global supply chain posed by COVID 19 and now the subsequent Russia-Ukraine War, which greatly affects cost of freight and sourcing of commodities from international suppliers, the Government of Liberia remains committed to ensuring essential commodities remain available and affordable on the local market.

“Subsequently, the Ministry of Commerce and Industry wishes to inform the general public that it has worked with Importers of Petroleum Products to ensure that there is sufficient stock in the country to serve the market for the next couple of months. The Government of Liberia appreciates those fully executing their supply mandate as Licensed Importers of Petroleum”, the Ministry of Commerce and Industry said in its press release.

The release added that the GOL remains committed to continuously engaging all relevant stakeholders to ensure essential commodities are available and affordable in line with the Pro Poor Agenda. But many citizens who spoke to The Analyst said that if the government was serious about engaging the marketers or importers of the product it should do it as soon as possible and the positive outcome should be reflected practically at the filling stations and even with the retail market operators.

“We are seeing the press release but for me it does not matter to me if it will not address the acute shortage on the market. The price has increased and even if the government is saying there are enough on the market, then there should not be a reason why there is an exponential increase in the price of the commodity. I just paid LD250 from the ELWA junction to Broad Street which was LD200 before. So the government has to be truthful on this side. If the government is sure of what they are doing, then let us start to see corrective measures to ensure the normal price prevails. Otherwise, they are not telling us the truth”, said Sandiman Samuel Pokeh, a civil servant, told this paper last week.

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