By Aruna Goepogui
MONROVIA, Liberia–Deputy Minister for Press and Public Affairs Daniel Sando says rising global crude oil prices, production constraints and disruptions along major shipping routes are increasing procurement costs for imported petroleum products and placing additional pressure on consumers in Liberia.
Speaking during the ministry of information regular press briefing in Monrovia Thursday, Deputy Minister Sando said the international petroleum market remains highly volatile, with Brent crude recently trading above US$100 per barrel amid disruptions affecting global oil supply and transportation.
According to him, the situation has significantly increased the cost of refined petroleum products, particularly gasoline and diesel, with the impact being felt across the United States, Europe and several African countries. Recent international market reports have also documented elevated crude and diesel prices linked to supply disruptions and geopolitical tensions.
Deputy Information Minister Daniel Sando
He said Liberia, as a net importer of petroleum products, is particularly exposed to fluctuations in international prices, shipping costs and the availability of refined products on the global market.
Sando noted that the effects of the global situation have also been evident in Liberia, including pressures on the domestic supply of petroleum products. Current market data places Liberia’s retail gasoline and diesel prices at elevated levels, although pump prices can vary by source and location.
The Deputy Minister said maintaining a reliable and stable supply of petroleum products requires continuous coordination among key stakeholders, including the Government of Liberia, the Ministry of Commerce, petroleum importers and other relevant institutions.
He added that the government will continue monitoring international oil prices, shipping routes, product availability and national petroleum stocks in an effort to anticipate market disruptions and help maintain a stable supply of fuel on the Liberian market.