The Lebanese energy ministry issued on Thursday a statement that raises the prices of gasoline, diesel and gas after their remarkable decrease on Wednesday.
The Central Bank had issued on Tuesday an order that lets the oil distributors to purchase fresh US dollars from the banks at Sayrafa rate of LBP 38000. This pushed the energy ministry to decrease the oil prices remarkably.
However, the banks did not provide the oil distributors with fresh dollars on Wednesday, which led a large number of gas stations to close.
After intensive consultations among PM Najib Mikati, Head of Central Bank Riad Salameh, and the energy minister Walid Fayyad, it was decided that the prices get amended in accordance with the US dollar exchange rate on the black market.
Consequently, the new prices are as follows:
95 octanes: LBP 709000
98 octanes: LBP 729000
Diesel: LBP 790000
Gas: LBP 466000
Source: Al-Manar English Website
