A member of the Syndicate of Gas Station Owners George Brax explained that “fuel prices today reflect the rise in global oil prices as a result of the Russian-Ukrainian crisis, but what has maintained the price is the stability of the dollar exchange rate in the Lebanese markets, which is approved for issuing the schedule.”

Brax pointed out that the Central Bank has raised the dollar exchange rate at Sayrafa platform required to import 85 percent of gasoline from 20,200 LBP to 20,300 pounds. While the dollar exchange rate adopted in the price-fixing table for importing 15 percent of gasoline, which is calculated according to the prices of parallel markets, and which importing companies and stations must secure in cash, has dropped from 21,111 LBP to 20,862 LBP.

He pointed out that “in contrast, the rise in global oil prices led to an increase in the price of imported oil, as the price of a kiloliter of gasoline rose by $5.73, and a kiloliter of diesel fuel rose by $ 3 on today’s schedule.”

It is worth noting that oil prices in Lebanon have increased on Tuesday. as the price of gasoline (95 octanes) surged by 4,800 Lebanese pounds and (98 octanes) by 3,800 LBP. The price of diesel has dropped by 2,000 LBP, and the price of a cooking gas bottle has fell by 4,300 LBP.

Consequently, the prices became as follows:

Gasoline 95 octane: 362,000 Lebanese pounds L.L.

Gasoline 98 octane: 371,000 L.L.

Diesel: 331,000 L.L.

Gas: 276,000 L.L.