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Gasoline Prices Up By 66% Over Past 5 Months
As subsidies are gradually eased and fuel and diesel continue to be smuggled out of the country, Lebanon has seen a sharp increase in the prices of these commodities.
According to El Gherbal Initiative, gasoline prices have increased by 66% over the past 5 months. Similarly, diesel fuel prices also witnessed at 77% increase, and now stand at 27,300 L.L per 20 liters.
These prices continue to rise weekly and due to a combination of smuggling and price manipulation, stations have been imposing limits as to how much gasoline can be filled while others decide to close. Currently, the fuel subsidies have been eased from the pre-existing 90% to 85% – and that is expected to continue as the Central Bank’s dollar reserves dwindle.
According to El Gherbal Initiative, gasoline prices have increased by 66% over the past 5 months. Similarly, diesel fuel prices also witnessed at 77% increase, and now stand at 27,300 L.L per 20 liters.
These prices continue to rise weekly and due to a combination of smuggling and price manipulation, stations have been imposing limits as to how much gasoline can be filled while others decide to close. Currently, the fuel subsidies have been eased from the pre-existing 90% to 85% – and that is expected to continue as the Central Bank’s dollar reserves dwindle.