| 19 April 2024, Friday |

Fuel crisis threatens all sectors, no solution except by a total subsidy lift.

The fuel crisis that threatens all sectors is escalating, member of the Syndicate of Oil Derivatives Importers, George Brax, confirmed to “Al-Anbaa” there is a huge diesel crisis due to the delay in opening credits by the Banque du Liban on one hand, and the market’s need for this substance on the other,  especially in light of the continuous power cuts, which increases the need for diesel starting from homes shops, laboratories, factories, institutions, and even hospitals, which requires double consumption, especially since opening credits is no longer sufficient for the market need.

Brax said that “there is no solution to get out of the crisis except by lifting the subsidy completely, as happened with the issue of medicines and industrial goods,” expecting that the price of gasoline after lifting the subsidy will reach 360 thousand and the US dollar 40 thousand pounds, and then the tank of gasoline will become 485 thousand, and diesel 410 thousand, fearing of not being able to import, then the price of gasoline would become fictitious, if found.”

He added “Even if the government is formed, it will not be able to do anything. The crisis is severe and the fear is that it will not be able to import.”