Lebanon raises fuel prices amid dollar scarcity – Roya News English

Lebanon raises fuel prices amid dollar scarcity – Roya News English

Tuesday, Lebanon raised fuel prices by more than 30 percent, in a move that comes within the framework of partially lifting fuel subsidies with the depletion of the dollar reserves at the Banque du Liban.

For weeks, the Lebanese have been waiting for hours in long queues in front of gas stations, which adopted a policy of severe rationing in the distribution of gasoline and diesel fuel. The ability of the Electricité du Liban to provide electricity has also gradually decreased, bringing the daily rationing hours to 22 hours.

According to the new price list published by the official National Media Agency in Lebanon, the price of a can of 95-octane gasoline (20 liters) exceeded 60,000 pounds ($40.60 dollars according to the official exchange rate), after an increase of about 16,000 pounds. The price of a can of 98-octane gasoline is about 63,000 ($42), after an increase of 16,300 pounds. The price of a diesel fuel tank exceeded 46,000 pounds ($30.70), after an increase of 12,800 pounds.