| 22 May 2024, Wednesday |

Al-Brax explains the reasons for the rise in fuel prices

After the release of the new table of fuel prices today, which constituted an insane rise, especially in the fuel oil, a member of the Syndicate of Petrol Station Owners, George Al-Brax, indicated that “the rise in global oil prices and the rise in the dollar exchange rate in the Lebanese markets led to a rise in fuel prices.”

He added: “While the Banque du Liban raised the exchange rate of the dollar insured by it according to a currency exchange platform to import 85 percent of gasoline from 20900 to 21500 pounds, the exchange rate of the dollar approved in the table to import 15 percent of gasoline calculated according to the prices of parallel markets and which companies are obligated to do. Imported and stations insured in cash from 22,217 to 22,995 pounds. This rise in global oil prices was translated into determining the price of imported gasoline on today’s schedule, with an increase of $3.67 over the price of a kiloliter of gasoline and $34 on diesel.”

  • Sawt Beirut International