The main question that the Lebanese are concerned about now that the Council of Ministers meetings have been delayed until a solution to the judicial crisis has been found is what course the dollar exchange rate will follow during the period of government stagnation. Antoine Farah, an economist, joined us to discuss this subject.

“In the coming weeks, we will observe ongoing increases in the pricing of fuels such as gasoline, diesel, and gas,” said George Brax, a member of the Syndicate of Gas Station Owners. “This is due to the rise in the price of a barrel of oil globally, which reached $85.”

He related its growth to “the global economy’s return to its normal position following the COVID-19 outbreak, as well as a global surge in gas prices.”

He explained that the price of gasoline is influenced by the local dollar exchange rate, which has surpassed 20,000 Lebanese pounds, resulting in an increase reaching 300,000 LBP in the next three weeks.