By Pewu Y. Sumo
MONROVIA – Information Minister Jerolinmek Matthew Piah issued a stern warning on Thursday, March 12, 2026, to business owners involved in the supply and distribution of petroleum products. Speaking at the Ministry of Information (MOI) regular press briefing, the Minister cautioned against the arbitrary hiking of prices as the ongoing Middle East crisis continues to impact the global market.
Minister Piah acknowledged that the government is closely monitoring the geopolitical fallout of the conflict involving Israel, the United States, and Iran. However, he made it clear that global volatility is not an excuse for local price gouging.
“The government will not tolerate any attempt by unscrupulous businesses to exploit the current global situation to the detriment of the Liberian people,” Minister Piah stated, adding that “the government remains in full control and will continue to monitor the situation.”
The Minister’s warning follows a recent price circular for March 2026 released by the Ministry of Commerce and Industry in coordination with the Liberia Petroleum Refining Company (LPRC).
While global Brent crude has surged past $92 per barrel due to disruptions in the Strait of Hormuz, the Liberian government has implemented measures to cushion the domestic impact. According to the latest figures:
Gasoline (PMS): Prices remain stable at approximately US$4.02 (LD 755) per gallon.
Diesel (AGO): A temporary adjustment of US$0.55 was recently approved due to mounting international pressure, bringing the retail price to roughly US$4.33 (LD 810).
Minister Piah concluded by urging importers and retailers to adhere strictly to these regulated prices, noting that inspectors will be deployed to ensure compliance across the country.
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