Fuel distributors’ representative in Lebanon, Fadi Abu Chakra, on Monday confirmed in an interview with the National News Agency that since the issuance of the latest fuel prices’ grid last Tuesday, fuel derivatives have been being distributed based on the price of LBP 28,000 per US dollar while the black market’s US dollar exchange rate has exceeded LBP 31,000.

“This is an outright cause of destruction and bankruptcy for institutions, fuel distributors, and gas station owners, as well as for Lebanese citizens who have been bearing the brunt of the extremely hefty prices,” Abou Chakra said.

He went on to call on officials, especially the Central Bank Governor, to intervene quickly so as to bring the soaring price of the US dollar exchange rate to a halt.

Moreover, Abou Chakra announced that a new fuel prices’ grid would be issued tomorrow, and a rise in the price of gasoline, diesel, and gas was expected in line with the rise of the US dollar exchange rate.

“We support Thursday’s rally,” he added, pointing out that fuel will not be distributed on Thursday “because the demands of the transport unions are righteous, and they represent those of every Lebanese citizen.”