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    Home»News»Business & Economy
    100 Million Liters Of Fuel Will Be Offloaded Today Into Lebanon’s Stations
    Annahar
    1 Min Read

    Lebanon Just Raised Fuel Prices Again

    By Natalie HaddadSeptember 29, 2021
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    Lebanon announced another increase in fuel prices on Wednesday. Just one week after the last fuel price hike.

    The new Lebanese Minister of Energy and Water, Walid Fayyad, issued the new prices – edging closer to fully lifting the fuel subsidies.

    The new prices are as such:

    • 20 litres 95-octane is 206,400LL – increased by 4,000LL
    • 20 litres 98-octane is 213,500LL – increased by 4,200LL
    • 20 litres diesel oil is 183,600LL – increased by 20,900LL
    • A tank of household gas now costs 143,400LL

    Representative of the Syndicate of Gas Station Owners in Lebanon George Brax has predicted last week that the total lifting of fuel subsidies would take place in this gradual manner.

    This is the 3rd hike in just over a week.

    Lifting of fuel subsidies is widely believed to solve the fuel shortage and crisis in Lebanon where subsidized fuel is being sold at the black market and smuggled to Syria. However, Syria currently has a 1 million liter per month deficit.

    Shortly after the fuel price hike last week, Syria announced an increase in fuel prices – maintain a profitable incentive for smuggling to continue.

    As long as the borders aren’t secured, #Lebanon will always have a fuel problem. Syria keeps hiking their prices whenever Lebanon does – ensuring a profitable arbitrage opportunity for smugglers to continue leaching off Lebanon.

    Issue of border enforcement is purely political.

    — Anthony Kantara (@AnthonyKantara) September 27, 2021
    Fuel Crisis
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