Lebanon increased its fuel prices on Wednesday, only five days after a previous hike, the National News Agency reported.
The new prices are:
This is the 5th price hike after the Central Bank of Lebanon lifted fuel subsidies in August – now offering credit lines for fuel imports based on the market rate.
The subsidies, which drained the country’s reserves, were aimed to help low-income consumers. Instead, it created incentives for hoarding and smuggling.
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Fuel Prices In Lebanon Just Increased For The 5th Time In Over A Month