Are We Witnessing the Dollarization of Gasoline?

Fadi Abu Chakra, a representative of fuel distributors, excluded the possibility of dollarizing gasoline based on the black market dollar exchange rate, noting that caretaker Prime Minister Najib Mikati is smarter than to decide on such a matter. He warned against such a decision. In an interview with "Voice of Lebanon," Abu Chakra stated that whether fuel prices are based on "Sayrafa" rates or not, citizens can no longer afford them, and institutions have gone bankrupt, while gas station owners and distributors can no longer secure the cost of fuel. He urged the officials, saying, "Enough of leading us toward the fires of hell."