MONROVIA – Liberia is on the verge of experiencing another shortage of petroleum products, but it is an artificial shortage resulting from hoarding by major importers due to an unsettled agreement with the government regarding a pump price increment. In March 2024, President Boakai issued an Executive Order to reduce the cost of petroleum products by 20 cents to alleviate the cost of living. However, the Managing Director of LPRC, Mr. Amos Tweh, told FrontPageAfrica that the government is not in a position to offer any increment in the pump price of petroleum products. Any information you’re receiving is either an attempt to create an artificial shortage to force the government to increase the pump price of petroleum products.”It remains unclear how long the importers will continue hoarding their petroleum products. This waived amount doesn’t benefit the pump price; it rather creates a windfall for the petroleum dealers.

Source: Front Page Africa May 08, 2024 15:20 UTC