Lebanon raises gasoline prices by over 37 pct amid crippling shortages of supplies

Lebanon raises gasoline prices by over 37 pct amid crippling shortages of supplies

Lebanon’s energy ministry further raised gasoline prices on Friday by over 30 percent, an official document showed.

The price of 95-octane gasoline and 98-octane gasoline was raised by over 37 percent.

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On Thursday, Lebanon’s cabinet approved a policy program that aims to tackle one of the worst financial meltdowns in history.

Reuters saw the draft document, which included a resumption of negotiations with the International Monetary Fund and a restructuring of the banking sector.

Meanwhile, Iran-backed Hezbollah began bringing Iranian fuel into Lebanon via Syria on Thursday, a move the Shia group says aims to ease a crippling energy crisis but which its opponents have said exposes the country to the risk of US sanctions.

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