By Charles Gbayor
MARYLAND – Citizens and residents of Harper City, in the far southeastern county of Maryland, are faced with daily constraints as a result of a surge in the price of gasoline, which is now sold at LRD1,400 per gallon, further compounding the challenges of daily life in that part of the country, Rural Reporters News Network (RRNN) has independently gathered.
The steep price hike for a gallon of gasoline comes at a time when the scarcity of Liberian dollars continues to make it increasingly difficult for citizens to access cash and meet basic needs in Maryland County.
Last year, Power Oil Liberia/Express Oil, a company that deals in petroleum products in southeastern Liberia, dedicated a US$6 million modern storage facility in Harper City, Maryland County.
At the time, the company disclosed that such investment was intended to help in addressing age-old problems associated with the supply of petroleum products to southeastern counties including Maryland, River Gee, Grand Kru, and Grand Gedeh respectively.
The Power Oil Liberia/Express Oil facility contains three major tanks that are meant to store approximately up to 940,000 gallons of fuel and gasoline respectively, and according to the company, this would have mitigated a hike in the pump price of petroleum products in Liberia’s southeastern region.
Despite the erection and dedication of Power Oil Liberia/Express Oil facility, the price of petroleum products continues to be hiked periodically in the area.
The current sharp rise in prices of petroleum products in Harper City is expected to have a ripple-down effect across the economy, driving up the cost of transportation, goods, and services, which are already under strain due to factors underpinned by inflation, according to a professor of economics at the Tubman University, who asked to remain anonymous for this report.
Local commuters and businesses, especially those reliant on transportation for goods and services have expressed growing concerns over the economic impact of the rise in the price of gasoline.
The scarcity of Liberian dollars has also compounded the situation, as many Harper City citizens and residents are unable to access adequate cash for their daily transactions, according to our reporter.
The Liberian currency shortage in that part of the country, coupled with the increase in prices of basic commodities has left many citizens struggling to keep up with the cost of living, according to an RRNN reporter in Maryland County.
While authorities are yet to issue a formal statement on what’s responsible for the current hike in the price of gasoline in Harper City, many including international trade experts and professors of economics believe the shortage of foreign exchange reserves, supply chain disruptions, and global oil market price fluctuation may all serve as contributing factors to the soaring price of gasoline in Harper City.
As the gasoline crisis deepens, citizens in Harper City and other affected areas are calling on the Government of Liberia (GoL) to urgently address the issue, with a call for the GoL to implement measures to stabilize prices and ease the growing burden on citizens and residents of the area.
Without urgent intervention from the GoL, the current economic strain triggered by scarcity in Liberian bank notes and hike in the price of gasoline could worsen, placing even more pressure on the country’s already fragile economy, Joe Allison, a southeastern businessman stated.
For now, residents and citizens in the southeastern city of Harper continue to bear the burden of having to underwrite exorbitant costs daily, as they anxiously await solutions to the ongoing gasoline price surge and Liberian dollar scarcity in that area.
Edited by Olando Testimony Zeongar.
