The Head of the Syndicate of Gas Station Owners Fadi Abou Chakra said that “the country is heading towards the unknown and the situation is becoming more difficult.”

He said: “We have previously warned that the 10 percent that should be paid in cash dollars will lead to an increase in the price of gasoline and diesel.

Abou Chakra revealed to MTV that demand for gasoline has dropped by 50 percent due to the deteriorating purchasing power, explaining that “the rise in the price of fuel affects the prices of food commodities and other matters.”

He added: “We will see soon many gas stations closing and this will lead to a new crisis.”

Abou Chakra had stressed in previous statements that the stations are unable to bear the 10% and continue receiving the current royalty, and described Central Bank’s decisions as wrong and improper.