President Joseph Nyuma Boakai, Sr. has highlighted the Liberia Petroleum Refining Company (LPRC) as a critical pillar in maintaining stability within Liberia's petroleum sector and easing the cost-of-living burden on ordinary citizens, despite ongoing global disruptions in fuel supply and pricing.
Delivering his 2026 Annual Message to the 55th Legislature, President Boakai noted that while international fuel markets continue to experience volatility driven by geopolitical tensions and supply chain constraints, petroleum prices in Liberia have remained relatively stable at about US$4 per gallon.
He said this stability has provided meaningful relief to households, transport operators, and businesses by helping to keep transportation and production costs in check.
The President emphasized that the sustained price stability is the product of deliberate and strategic government interventions rather than coincidence.
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According to him, these measures are part of a broader effort to strengthen fuel supply systems, enforce quality assurance, and enhance Liberia's long-term energy security.
A key component of these efforts, President Boakai revealed, is the successful completion of a 17,000-cubic-meter fuel storage tank at LPRC, alongside the establishment of a modern petroleum testing laboratory.
He explained that the expanded storage capacity has significantly reduced the country's vulnerability to supply disruptions, while the testing facility has improved fuel quality standards and consumer protection.
"These investments have strengthened our national fuel reserves and improved regulatory oversight," President Boakai stated, noting that they have positioned Liberia to better withstand external shocks affecting the global petroleum market.
The President also credited the progress at LPRC to the "farsighted and practical leadership" of the company's Managing Director, Hon. Amos B. Tweh. Under his stewardship, the President said, LPRC has enhanced operational efficiency, reinforced transparency, and taken a firm stance against unjustified fuel price hikes--measures that have helped stabilize the market and safeguard consumers.
President Boakai acknowledged that LPRC's proactive approach has played a vital role in ensuring that fuel pricing reflects real market conditions rather than speculative or exploitative practices.
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The President's remarks underscore LPRC's renewed relevance to Liberia's economic stability and development agenda, particularly at a time when energy costs remain a major driver of inflation and social pressure across the region.
By publicly recognizing the institution's performance and leadership, President Boakai reaffirmed his administration's commitment to strengthening state-owned enterprises that directly impact the daily lives of Liberians and to ensuring that national energy security is managed in the best interest of the people.
