SAWT BEIRUT INTERNATIONAL

| 3 August 2021, Tuesday |

Truth about the mistake in the table of fuel prices

MTV reported that “there is a shortage in the composition of the table of fuel prices, as confirmed in the Energy Ministry’s statement, indicating that there is a confusion in the components of the pricing elements.”

Sources added: “The truth is that the oil importing companies incur additional expenses that are paid in fresh dollars, such as the expenses of waiting for ships at the ports or banking expenses, which were calculated and covered within the differences in the 10% that companies buy on the black market, while the Central Bank was supporting the remaining 90% at the 1,500 LBP rate. Today, the subsidy has become 100% at the rate of 3,900 LBP per USD, and the Energy Ministry did not calculate these additional differences, unlike previous times, which explains the mistake in the prices. The Association of Petroleum Importing Companies visited the Director General to underline the fact that the differences were not calculated.”