Liberia hikes fuel prices again as global oil volatility bites

Liberians will dig deeper into their pockets after the government has announced another round of fuel price increases, effective Saturday, April 4, 2026, citing persistent fluctuations in international oil markets and a weaker local exchange rate against the US dollar.

In a joint petroleum price circular issued by the Ministry of Commerce and Industry and the Liberia Petroleum Refining Company (LPRC), gasoline will be sold at a maximum of $5.09 per gallon, while diesel will be sold at $6.55 per gallon.

Wholesale prices were set at $4.81 per gallon for gasoline and $6.27 per gallon for diesel. The adjustments have risen sharply month-on-month. Gasoline is up roughly $0.22 per gallon, while diesel has climbed by about $0.77 per gallon compared with the previous pricing period.

The increases follow similar upward revisions in March, when gasoline prices moved from around $4.02 to $4.87 per gallon in mid-month amid rising global crude benchmarks.

The global energy sector has been hit by the ongoing conflict in the Middle East, further exacerbated by the closure of the Strait of Hormuz.

Global pressures and local impact

Officials linked the latest hike directly to movements in international reference prices—particularly Platts assessments—together with the prevailing exchange rate between the Liberian dollar and the US dollar.

Liberia, which imports nearly all of its refined petroleum products, remains highly vulnerable to global energy market fluctuations.

The country’s dual-currency system, in which the US dollar circulates alongside the Liberian dollar, means pump prices are quoted primarily in dollars, while the knock-on effects still hit Liberian households and businesses hard.

Higher fuel costs are expected to feed through to transportation fares, food prices, and the cost of basic goods in a nation where many citizens already grapple with high living expenses and limited formal employment.

Analysts note that repeated monthly adjustments have become routine in Liberia as the government attempts to maintain supply stability while avoiding large subsidies that could strain public finances.

The LPRC has emphasized that the new ceiling prices are designed to reflect “true market conditions” and ensure continued availability at depots countrywide.

(Edited by CGTN Africa reporter Halligan Agade)