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Following the release of the new grid for fuel prices on Tuesday, local news reported that the increase in prices was due to the Central Bank‘s decision to increase the exchange rate for fuel prices.
Fuel prices will now be priced at 70% at the Sayrafa rate (around 26,200 LL) and 30% at the Black Market Rate (around 32,250 LL).
Previously, Lebanon was paying 15% of fuel in fresh dollars and 85% at the Sayrafa rate.
The decision was already effective when releasing the new grid for fuel prices on Tuesday where the price for 95 and 98 Octane Gasoline increased by 16,000 LL
It appears that fuel prices in Lebanon are gradually moving towards complete dollarization.
Related: No Fuel Crisis In Lebanon Despite The Resurgence Of Queues At Gas Stations