| 2 March 2024, Saturday |

Abou Chacra clarifies the reason behind the high fuel prices

The Chairman of Gas Station Owners Association Fadi Abou Chacra indicated today that the increase in fuel prices is attributed to the surge in dollar price on the black market.

He added that gas station owners are paying 15 percent of the gasoline’s bill in fresh dollars.

Abou Chacra hoped that officials will address the high price of the dollar on the black market, so that the price of fuel products does not increase.

Abu Chakra explained during a television interview: “We can never speculate the fuel prices because no one can tell us whether the Central Bank subsidies will be lifted.” He added that there are talks about subsidy justifications and therefore supporting around 60 percent of fuel bill.

“I refuse lifting subsidies on the fuel, and saying that the price of the gasoline tank will reach LL100,000, is unacceptable because it impacts citizens negatively.