| 24 May 2024, Friday |

Oil General Directorate: Agreement to settle price of fuel stocks currently held by companies at exchange rate of LBP 3,900

The General Directorate of Oil and the Central Bank announced in a statement today, that “following the communication between the Ministry of Energy and the Central Bank, the two parties agreed that the price of the stock of fuel currently held by the importing companies shall be calculated at the exchange rate of LBP3,900; and accordingly, the oil importing companies are required to supply the local market with fuel, giving priority to hospitals, pharmaceutical and serum factories, bakeries, mills, and vital facilities, through tables issued by the Ministry of Health and the Ministry of Economy and Trade, and the adoption of the price-installation table issued last Wednesday.”

The statement urged “all ministries, departments and security apparatuses to continue, in accordance with their powers, to monitor distribution and adherence to officially-approved prices to prevent smuggling, storage and sale through the black market.”

  • NNA