Lebanon Just Raised Fuel Prices Again, Here Are The Details

Lebanon Just Raised Fuel Prices Again Ahead Of Total Subsidy Removal

The Lebanese Energy Ministry raised the prices of fuel on Wednesday, for the second time in the past week.

In a decision numbered 182, the Energy Ministry’s General Directorate of Oil set the new prices as follows:

  • 20 liters of 98-octane gasoline: LBP 209,300 (+60%)
  • 20 liters of 95-octane gasoline: LBP 202,400 (+60%)
  • 20 liters of diesel fuel for vehicles: LBP 162,700 (+66%)

Representative of the Syndicate of Gas Station Owners in Lebanon George Brax said in a TV appearance following the decision that the subsidization mechanism of fuel had transitioned from the exchange rate of LBP 12,000/USD to LBP 14,000/USD.

This mechanism is not final, Brax said, predicting that the total lifting of fuel subsidies would take place in this gradual manner.

Brax noted that importing companies would start to distribute fuel to gas stations later in the afternoon, affirming that lifting subsidies would not necessarily put an end to car lines at stations.

That, he explained, would depend on the availability of fuel in the local market, which, in turn, would require that the Central Bank of Lebanon grants the required approvals to importers.

The new rates come a few days after the Energy Ministry raised the prices of 95-octane and 98-octane gasoline.

Our team works tirelessly to ensure Lebanese people have a reliable alternative to the politically-backed media outlets with their heavily-funded and dangerous propaganda machines. We've been detained, faced nonstop cyber attacks, censorship, attempted kidnapping, physical intimidation, and frivolous lawsuits draining our resources. Financial support from our readers keeps us fighting on your behalf. If you are financially able, please consider supporting The961's work. Support The961. Make a contribution now.

Lebanon Just Raised Fuel Prices Again, Here Are The Details

Share this article with your friends!

Not now
Share via
Don\'t Miss Out!