The price of fuel decreased today in Lebanon, Monday, September 12, 2022, according to the prices announced by the Ministry of Energy and Water in early morning trading.
This comes following the significant increase in the prices of gasoline and diesel, which the markets witnessed in Lebanon during the past few days, in light of the significant rise in the prices of the US dollar, which crossed the barrier of 30,000 pounds to the dollar, before falling once more following the intervention of the Central Bank of Lebanon.
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Today’s fuel prices in Lebanon
The fuel prices came according to the schedule announced by the Ministry as follows:
First: A can of 98 octane gasoline reached 633,000 pounds, compared to 649,000 pounds.
Second: A can of 95 octane gasoline amounted to 618 thousand pounds, compared to 634,000 pounds.
Third: The diesel fuel tank reached 791 thousand pounds, compared to 758 thousand pounds.
Fourth: The gas bottle amounted to 341 thousand pounds, compared to 319 thousand pounds.
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This comes in light of a sharp decline of the Lebanese pound that began in 2019 once morest the dollar, coinciding with a severe liquidity crisis, and banks have stopped providing depositors with their money in dollars, while the official exchange rate is still fixed at 1,507 pounds.
In addition, this coincided with the increase in the value of the gasoline import bill by 70% since the beginning of the current year 2022, making the Central Bank of Lebanon unable to continue bearing the burden of fuel subsidies.
