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After the agreement to purchase fuel at the $1 to 3,900 LBP exchange rate instead of at 1,500 LBP, Lebanon has been pending on the latest adjusted prices.
On Tuesday, the Energy Ministry released a list of prices but later announced that there was an error in the listing and they would update them soon.
Today, just two days later, the new list of fuel prices is out and it’s more expensive than originally published.
Fueling a car with 95-octane gas will now cost 70,100 LBP per 20 liters. That’s an increase of around 25,000 LBP from the regular average price.
For 98-octane gas, it’s 72,200 LBP per 20 liters which is an added 25,600 LBP. Additionally, 20 liters of diesel will now cost 54,400 LBP.
The unprecedented increase in fuel prices drives up the costs of public transportation, backup electricity generator fees, delivery services, and more.