Sources say the price of diesel could increase by $0.40 per gallon, while authorities are still considering whether to increase the price of gasoline.
A source told DN News, “The situation is becoming serious and we have no alternative but to increase the price of fuel, and since a lot of Liberians use gasoline we are still thinking over whether or not to increase the price.”
A government statement released on Wednesday, March 5, says the prices of petroleum products will remain unchanged for now. Under the current pricing structure, diesel (AGO) is selling at US$4.33 (LD 810) per gallon, based on the Central Bank of Liberia exchange rate of LD187 to US$1.
If the proposed $0.40 increase takes effect, the price of diesel could rise to about US$4.73, which would translate to approximately LD 885 per gallon.Meanwhile, DN News has observed a slight increase in gasoline prices at some filling stations. A gallon of gasoline that previously sold between LRD 725 and 740 is now reportedly being sold between LRD 760 and 780.
The rush at some stations is believed to be linked to fears that tensions involving the United States, Israel, and Iran could affect global oil supply and lead to higher fuel prices
