95 and 98 octane gasoline prices increased by 23,000 Lebanese pounds on Friday morning, while diesel fuel prices jumped by LBP 45,000.

In a previous statement, a member of the Syndicate of Gas Station Owners, Dr. George Brax, said that “under the weight of the rise in global oil prices, the price of a barrel of Brent has exceeded 122 US dollars as a result of the escalation in the war in Ukraine and the pressure exerted by the European Union to impose a new package of sanctions on Russia and to prevent European ships from transporting Russian oil.”