| 25 June 2021, Friday |

Lebanon’s gasoline, diesel oil crisis explained

Lines of vehicles snaking around gas stations are no longer raising eyebrows; such sightings have become commonplace and would differ from one station to another in the capital Beirut.

Companies are not delivering gasoline with a rationalization rate of 50%, which is taking its toll on the Lebanese citizen.

This comes as contacts have been intensively held over the past few days in order to reveal whether credits will be opened and whether ships stopped in the sea will be granted approval to meet the local market’s needs in terms of gasoline and diesel oil.

Georges Brax, a member of the Syndicate of Gas Station Owners, told Sawt Beirut International (SBI) reporter Ghida Jbeili that “subsidies will not be lifted off fuel and there is no shortage of gasoline in Lebanon.”

Fuel is being distributed although in a rationalized manner, he said, stressing that vessels loaded with gasoline and diesel oil will dock at Lebanon’s ports as soon as credits are opened but he wondered about the reason for the Central Bank’s delay in opening such credits.

Amidst a shortage of gasoline, Lebanon is also facing a rationalization of electricity due to the lack of sufficient fuel.

“Oil facilities cannot continue this way due to the fact that there is a high consumption; the country’s needs are up to 9 million liters per day. These facilities have distributed 20 million liters and still need around 60 million to provide it (fuel),” he said, adding that “it must be provided by importing companies, for which the Banque du Liban is supposed to open credits.”

So until now, we have no electricity and no gasoline pending the BDL’s opening of credits. Until then, Lebanese citizens have no choice but to be patient.