Stakeholders in the Liberian petroleum industry have for the second time in a roll announced the reduction in the pump prices of gasoline and fuel oil on the Liberian market.
In a statement issued last week, the Liberian Ministry of Commerce in closed Consultation with the Liberia Petroleum Refining Company said the reduction would be a boost to the transport and other sectors involved in the use of petroleum products as it relates to reduction in prices.
Stakeholders in the Liberian petroleum industry have for the second time in a roll announced the reduction in the pump prices of gasoline and fuel oil on the Liberian market.
In a statement issued last week, the Liberian Ministry of Commerce in closed Consultation with the Liberia Petroleum Refining Company said the reduction would be a boost to the transport and other sectors involved in the use of petroleum products as it relates to reduction in prices.
In a price circular signed by Commerce Minister Axel M. Addy, and the LPRC Managing Director T. Nelson Williams, II the price of gasoline is reduced by US0.15 cents and fuel oil by US0.20 cents which has taken place as of the date of the signing and release of the circular on April 27, 2013.
The changes in the current prices reflect the falling prices of petroleum products on the World market, the statement said. With such reduction, the retail pump price of gasoline is now US$4.18/LD$315.00, while the price of fuel oil is now US$4.21/LD$315.00.
It was also indicated that the Ministry of Commerce and Industry Inspectorate Team will be closely monitoring the approved petroleum price structures to avoid any arbitrary hike in the pump price on the market.
It can be recalled that a previous circular released on March 27, noted a reduction in prices of petroleum products. Gasoline was reduced by US 0.20 cents and fuel oil was reduced also by US 0.20 cents.
The statement furthered that the consistent reduction of petroleum prices is indeed a welcome development with many plaudits and praises already lavished on authorities of the Ministry of Commerce and Industry and the Liberia Petroleum Refining Company (LPRC).
West African Gas Pipeline Misses Another Deadline To Resume Production
The West African Gas Pipeline project, under which Nigeria is to supply Ghana, Togo and Benin with natural gas, will miss another deadline to resume supplies on Tuesday.
The West African Gas Pipeline Company (WAPCo) had said it would resume transportation of gas to the three countries on April, 30 after completion of repairs to its damaged pipe in Togo.
However, the company has said in a statement that it’s “schedule had slipped because of two main challenges contracting and line cleaner defect”.
Ghana, which has been suffering serious power shortage because Sunon Asogli, a company which generates 200 megawatts of power using gas, which has been out of business since August last year, has expressed “great concern” about the development.
The Ministry of Energy and Petroleum noted in a statement in Accra on Monday that this was not the first time WAPCo was failing to deliver on its promise of resuming gas transportation to Ghana since the damage to the gas pipeline on Aug. 28, 2012.
The Ministry, however, gave the assurance that the load shedding in the country would end by the first week of
May because two projects would add 265 megawatts to generation.
“Indeed, in the past few months we have been able to bring on stream 132MW from the Takoradi 3 Thermal Power
Plant (T3) on May 3, 2013, His Excellency the President of the Republic, John Dramani Mahama, will officially
inaugurate one of the units of the Bui Hydro Project which expected to 133MW.
“This means that we have been able to add to our installed generation capacity a total of 265 MW. This sufficiently t
akes care of the 200MW that was taken off as a result of Sunon Asogli not running because of lack of natural gas.’’
The government said this would be achieved at “a very high operational cost'' due to crude oil purchase as it cost government at least 50 million dollars every 20 days to purchase light crude oil for the Volta River Authority (VRA) to generate power.
The ministry said the government was working assiduously to ensure that 5,000 megawatts of power is generated by 2015.
The current power rationing is a huge political issue in Ghana apart from its debilitating effects on industry businesses and social life.
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