| 29 May 2024, Wednesday |

Brax: Ministry of Energy is the sole party authorized to set fuel prices

The member of Gas Stations Owners’ syndicate, George Brax said despite the fact that the Central Bank has informed officials through the Supreme Defense Council of its inability to open new credit lines for fuel imports, however the fuel prices are set by the Ministry of Energy and Water, which has not announced its position yet.

Brax added that the media office at the Central Bank has issued a statement confirming that the latter has halted opening credit lines, according to the approved mechanism and that it will adopt the current exchange rates of the dollar on the black market for the new credit lines.

Brax said: “We are waiting for the ministry’s decision, because it is the sole party authorized of setting the prices, and gas stations are obliged to abide to the prices issued. We have to wait and see the mechanism that will be adopted to determine prices and the station’s commissions and royalties.”

  • Sawt Beirut International