first_imgThe Government of Liberia through the Liberia Petroleum Refining Company (LPRC) and the Ministry of Commerce & Industry has announced an increase in the price of diesel (fuel oil) on the Liberian Market.According to a petroleum price circular issued by the government, the retail pump price for a gallon of fuel oil has increased from US$2.68 to US$2.98 or its Liberian dollar equivalent of LD$275 (which represents a 30 United States cent increment), while the retail pump price for a gallon of gasoline remains atUS$2.96 or its Liberian dollar equivalent of 270. The prices in Liberian dollars were calculated using the Central Bank’s approved exchange rate of 1USD to LRD$92.00 The new petroleum price ceiling circular issued by LPRC and the Ministry of Commerce & Industry, took effect as of Friday, May 27, 2016. The decision to increase the price of diesel is a result of a shift in the perimeter that is usually used to determine the price of the product in the country.The release thanked all stakeholders in the Downstream Sector of the Petroleum Industry for their commitment in adhering to the price adjustment formula. Meanwhile, the circular warned that the Ministry of Commerce inspectorate unit will closely monitor the approved ceiling prices to avoid the arbitrary hike in the pump prices of gasoline and fuel on the local market. The circular further warned that the Ministry of Commerce will also be closely monitoring the effectiveness of the price circular to ensure that importers do not undercut fellow competitors on the market. In a related development, the LPRC is encouraging consumers to continue their level of understanding; as external factors dictate the cost of these products on the Liberian Market and the sub-region. Prices of petroleum products in Liberia, as reflected in the table (pictured), are still the lowest in the Sub-region. This is largely due to lower levy imposed on petroleum products in the country as compared to other countries.Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)last_img read more

first_imgNo related posts. All legal drivers in Costa Rica must report – no later than April 26 – an email address that will be used by officials for notification of traffic fines.Every driver or vehicle owner must complete and submit a form to authorized offices of the Traffic Police, RITEVE (technical vehicle inspections), the Public Works and Transport Ministry or the Roadway Safety Council (COSEVI).The form can be downloaded from COSEVI’s website (www.csv.go.cr) and those who already have a digital signature also can send it to the email address: direccionelectronicavial@csv.go.cr.“Those motorists who do not provide an email address can not argue that they were not informed [about a fine] because they will be notified in the official newspaper La Gaceta,” COSEVI officials said in a press release.The requirement to provide an email address for notifications is established in the new Traffic Law, which took effect on Oct. 26. Facebook Commentslast_img read more