| 25 February 2024, Sunday |

Fuel prices soar even higher as crisis drags on

The Lebanese Ministry of Energy revealed on Wednesday a table featuring fuel prices for this week, which shows a new spike in gasoline and gas prices as the country hurtles towards total financial meltdown.

As per the table, the price of 98 octane gasoline rose by 400 to 40,400 Lebanese pounds, the price of 95 octane gasoline increased by 400 to 39,300 LBP while that of diesel oil dropped by 200 to 27,500 LBP.

The price of one gas cylinder dropped by 700 to 27,400 LBP, the table added.

Long queues formed on Tuesday at Lebanon’s fuel stations as citizens rushed to fill their cars with gasoline amid expectations that another increase in fuel prices will be revealed on Wednesday.

Overcrowding and heavy traffic jam was reported in front of fuel stations in the northern city of Tripoli and elsewhere in the country.

This comes as several stations locked their doors and abstained from providing gasoline and diesel on concerns that fuel prices will surge, which will inflict heavy losses upon them.