| 14 April 2024, Sunday |

Gasoline plate price rose 608% in one year

The International Information Society distributed a report entitled “The canister of gasoline rose by 150 thousand pounds and by 608% in one year,” which stated:

“On Friday, September 17, 2021, the price of a 95-octane canister of gasoline reached 174,300 pounds, after it was 24,600 pounds on the same date a year ago. That is, an increase of 149,700 and a percentage of 608%.

If subsidies are completely removed and oil prices stabilize globally, and the price of 15,000 pounds is adopted for the exchange of the dollar, the price of a can of gasoline will become 214,200 pounds, and we note in the table the following:

The stability of customs duties and the internal consumption fee at 5,600 pounds.

The station owner’s commission increased from 1,900 to 3,000, then to 4,000, and finally to 6,000. The owners of the stations are demanding an increase in this share, since when it was 1,900 Syrian pounds, it constituted 7.7% of the selling price. It is now down to 3.4% of the selling price. And the fair share for them should range between 10-14 thousand pounds per plate.

The transportation fee and the distribution company’s share increased from 840 liras to 1,540 liras and then to 2,240 liras.

During this year, the price of a can of gasoline, denominated in dollars, increased from 7 dollars in September 2020 to 12 dollars in September 2021.

When the price of gasoline was subsidized by 90%, at the price of 1515 the unsubsidized 10% formed 3,800 liras and rose to 13,200 liras with the rise in the dollar exchange rate on the black market.

The following table shows the evolution of the gas canister price during the year (September 16, 2020 – September 17, 2021).

  • Sawt Beirut International