The recent fluctuation of the Liberian dollar to the United States currency led to huge public outcry which precipitated the Central Bank of Liberia to take appropriate measures in salvaging the problem.
Immediately after the bank adopted a resolution, there has been an automatic stabilization in the exchange rates.
Kudos to the government for such an appropriate and timely action.
Less than a week of tackling the financial instability in the country, the Ministry of Commerce and the Liberian Petroleum Refinery Company have stepped in to reduce the pump prices of petroleum products which the public has hailed.
The price of fuel has great impacted on the daily life of Liberians who use various means of transportation to get to their destinations.
The prices of petroleum product are influenced by international markets which regulate the industry. Any shift in the world market will automatically have an adverse effect on importers; which in turn affects those changes to local consumers.
The reduction of the price of petroleum products is a manifestation of stakeholders’ commitment in doing the right thing at the right time.
This medium indulges the Ministry of Transport to also ensure that this reduction reflects on the transport fares which if not regulated will render the efforts useless.