| 28 May 2024, Tuesday |

Fuel prices are most likely to drop this week

Member of Gas Station Owners’ Syndicate, George Brax indicated that fuel prices are expected to witness an additional drop this week.

He wrote on his Twitter account: “We are expected to witness a decline in fuel prices this week for two reasons: the first is a result of the drop-in world oil prices, as the price of an oil barrel fell to below $70. The second is because the exchange rate of the dollar compared to the lira has declined during the past days, and all indicators do not show any rise that will affect it in the coming days.”

It is noteworthy that, on Friday, fuel prices in Lebanon registered a drop after a record increase over the past two weeks.

The price table published by the Lebanese Ministry of Energy and Water showed a decrease in gasoline prices: 95 octane dropped by 1,600 pounds, and 98 octane by 1,800 pounds, while the price of diesel decreased by 14,000 LBP, as well as the price of gas, 11,400 LBP.

The prices have become as follows:

Canister of 95 octane gasoline: 315,000 LBP

Canister of gasoline 98 octane: 325,200 LBP

Diesel: 315,000 LBP

Gas bottle: 272,700 LBP

It is noteworthy that the exchange rate of the dollar on the black market recorded a decrease last week, closing at 23,450 LBP per dollar, after it crossed last Friday the threshold of 25,000 LBP, for the first time since the start of the economic crisis in 2019.

  • Sawt Beirut International