A member of the Syndicate of Petrol Station Owners, George Al-Barraks, confirmed in an interview with “Al-Markazia” that fuel prices will not decrease significantly with the decline of the dollar due to the rise in global oil prices.
Today, the black market dollar recorded an additional decline, as it ranged between 24,500 Lebanese pounds for purchase and 24,400 pounds for sale.
The Lebanese pound witnessed an improvement in its value against the US dollar, which led to a decrease in the price of bread and fuel on Friday.
The Central Bank had previously allowed citizens to exchange the lira for dollars from banks, according to the exchange rate of the bank’s “exchange” platform.
It is noteworthy that the financial crisis in Lebanon worsened two years ago, as the World Bank described it as “one of the worst recessions in modern history.”