Lebanon increased its fuel prices on Wednesday, only five days after a previous hike, the National News Agency reported.
The new prices are:
- 20 liters of 95-octane is 242,800 LL – increased by 9,000 LL
- 20 liters of 98-octane is 250,700 LL – increased by 9,300 LL
- 20 liters of diesel oil is 235,200 LL – increased by 8,600 LL
- A tank of household gas is priced at 201,100 LL – increased by 22,300 LL
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.
