| 12 April 2024, Friday |

Fuel prices after raising the customs dollar

With talk about the rise of the customs dollar from 1500 pounds to the limits of 21,000 pounds, there’s a question many ask: Will fuel prices increase?

First of all, it is necessary to know that the customs dollar for petroleum commodities is different from the customs duties imposed on other commodities.

So far, there has been no decision yet to amend the specific fees imposed on gasoline and gas, since diesel is not subject to any of the fees, but if the specific fee is calculated according to an exchange platform, the prices will differ.

Currently, the specific fee for each gas can is $5, based on the price of 1500 liras, i.e. 7500 liras.

However, if the dollar is calculated on the price of an exchange platform, the fee becomes 105 thousand pounds for each can, and then the container of gasoline will rise from 359,600 pounds to about 464,600 pounds, without calculating the tva, since gasoline is subject to value-added tax.

As for domestic gas, it is subject only to a specific fee and its price is 40,000 pounds per ton, and if the increase is calculated on an exchange platform, the price of the bottle increases by about 6 thousand pounds.

There is no escape from amending the specific fee for fuels, especially since it used to generate revenues of more than 50% of customs revenues, but until now, there is no agreement yet on the price that will be adopted for this fee. So let’s wait and see.

  • Sawt Beirut International