The Banque du Liban continues to progressively reduce gasoline subsidies, with an adjustment in the proportion of the dollar subsidized and guaranteed by the Banque du Liban according to the exchange platform from 70% to 55%, and an increase in the percentage of the dollar unsubsidized from 30% to 45%.
A domestic source suggests that the average daily consumption reached 328,000 cans per day in 2021, and declined to 281,000 cans per day in 2022, a fall of 47,000 cans, or 14.3%. This points to a further drop in consumption in the case of a worldwide price hike, the elimination of fuel subsidies, or an increase in the dollar exchange rate.
The end of the entire subsidy on gasoline is approaching, and many are concerned about the new price, so how much will the plate cost?
Gasoline cans will also not be exempt from customs dollar if it is allowed, as is rumored at a price of LBP 20,000, and its price is projected to climb further. Thus, let us expect the gas canister to have two advantages, which will raise its price. Concerning the real tragedy, it is owing to its devastating ramifications on citizens who are unable to tolerate more material burdens.