Lebanon officially enters fuel subsidy phase

Today, Monday, the Banque du Liban completely stopped providing dollars for fuel imports, which led to a rise in the price of gasoline by 20,000 Lebanese pounds.

To date, the price of a canister of gasoline in Lebanon (equivalent to 20 litres) is fully calculated at the black market dollar rate, which was recently fixed at 35,400 Lebanese pounds, while the previous pricing method was based on the price of the dollar on the stock exchange, which at at the moment is 28,200 Lebanese pounds.

According to the new fuel price chart released today by the Department of Energy, the price of gas has increased by 2,000 pounds, while the price of diesel has decreased by 1,000 pounds.

Prices have become:
95 octane petrol – 638,000 lbs, 98 octane petrol – 653,000 lbs, diesel – 790,000 lbs and gasoline – 350,000 lbs.

Fadi Abu Shakra, a spokesman for fuel distributors, confirmed that “the citizen will not feel the price increase as a result of the removal of subsidies, since world oil prices are significantly reduced, which means that the price of a canister of gasoline does not exceed 650,000.”

Source: Lebanese media

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