Global oil prices plummeted to $100, leading to a slight drop in fuel prices in Lebanon. But the dollar exchange rate is no longer around 20,000 LBP but rather soared to 20,500 LBP.
The price of a can of gasoline, which rose within two weeks by 100,000 LBP has fell today only 12,000 LBP, while 89,000 pounds remain from the citizen’s pocket.
The prices became as follows:
Gasoline 95 octane: 451,000 LBP, down by 12,000 LBP.
Gasoline 98 octane: 461,000 LBP, down by 12,000 LBP.
Diesel: 479,000 LBP, down by 10,000 LBP.
While the price of a cooking gas bottle decreased by 1,000 LBP to 310,000 LBP
Finally, payments of ‘Aman’ program has begun, where about 147,000 families will benefit from cash transfers over a period of one year, with a maximum of $145 per month: $25 as a fixed amount for the family, and $20 for each individual, up to six individuals.
Economically, this amount has lost 50 percent of its value, and is no longer sufficient for a family to fill 4 cans of diesel in less than a month.
The World Bank is still calling for a comprehensive recovery plan that saves this country, as the financial situation for citizens has worsened dramatically. On the other hand, there is a total absence for a development project approved by the government, which means that the poor after a year will remain poor, and the rich will join the list of the poor.