According to "International Information" in its recent report, "the price of a 95 octane gasoline barrel reached 691,000 Lebanese pounds on Wednesday, June 15, 2022, while the price a year earlier on June 17, 2021, was 43,500 pounds, representing an increase over the year of 647,500 pounds and a percentage of 1,488%, or 16 times." The report highlighted the reasons for the significant increase as follows:
– The global oil barrel price rose from about $25 to $125.
– The cessation of gasoline subsidies previously provided by the Central Bank of Lebanon.
– An increase in the share for stations and transportation and distribution companies from 5,540 pounds per barrel to 28,500 pounds.
– An increase in the value of the value-added tax the state collects, which rose from 4,310 pounds to 67,000 pounds per gasoline barrel.
The following table shows the monthly evolution of the price of 95 octane gasoline.
