| 27 February 2024, Tuesday |

Will gasoline sell for 200,000 LBP if subsidies are lifted?

“In case subsidies are fully lifted, the price of 20 liters of gasoline will hit around 200,000 Lebanese pounds in light of the global oil prices today,” said George Fayyad, the head of the syndicate of owners of oil importing companies.

In a radio interview on Tuesday, Fayyad said “(fuel) quantities sufficient for the size of the market and a little extra have been delivered,” adding “the current solution might only last 15 days.”

In turn, the representative of fuel distribution companies in Lebanon, Fadi Abou Chakra, reassured that “starting from tomorrow (June 16), fuel will be distributed to all gas stations,” noting that fuel distribution companies will hold a meeting tomorrow to discuss the proposed solutions to the fuel crisis.

A solution will be reached soon, Abou Chakra said, adding that “the State should decide whether subsidies should be lifted or rationalized” and that “they are no longer able, as gas station owners and (fuel) distributors, to bear this crisis any longer.”

He also called on citizens to stay calm and not engage in brawls near gas stations “because the problem lies in the scarcity in fuel distribution.”

  • Sawt Beirut International