| 19 May 2024, Sunday |

Why all this rise in fuel prices?

Member of the of Gasoline Station Owners’ Syndicate, Georges Brax confirmed that “there has been no change in the imported oil prices as the price of 1,000 liters of gasoline was fixed at $583.27, while 1,000 liters of diesel was at $609,” explaining that “the surge in the dollar exchange rate in the market led to this rise in fuel prices.”

Brax added that “the price of the dollar secured by the Central Bank to import 85 percent of gasoline was fixed at 21,300 LBP, despite the fact that the exchange rate of the dollar on Sayrafa platform exceeded 22,300 LBP threshold.” This has limited the rise in the price of a gasoline canister which increased by 4,400 LBP.

The dollar exchange rate for the 15 percent, which importing companies and stations must insure, rose from 26,750 to 28,186 LBP, and this exchange rate applies on all imported diesel and gas prices, so the price of a diesel canister rose by 18,700 LBP, and a gas bottle of 18,600 LBP.”

Ministry of Energy and Water – General Directorate of Oil issued this morning the fuel prices schedule, it came as follows:

– Gasoline 95-octane: 323,200 LBP (4,400).

– Gasoline 98 octane: 334,400 LBP (4,600).

– Diesel: 357,600 LBP. (+18,700).

– Gas: 312,100 L.L. (+18,600).


  • Sawt Beirut International