Expected Price Increase After Lifting Fuel Subsidies

Marwan Chamass, the head of the Importing Oil Companies Association, confirmed that there is no chaos in the sector as the goods are available. However, there is a decision from the Central Bank of Lebanon and the Ministry of Energy to gradually lift subsidies on gasoline, which is being implemented. Chamass estimated in an interview with "Voice of Lebanon" that there would be an increase of about 70,000 Lebanese Lira on the price of a canister of gasoline if subsidies are lifted and the dollar rate in the black market remains the same. He pointed out that when pricing is completely in dollars, the commissions for gas station owners will be affected by the dollar exchange rate and the price of gasoline, and thus will rise, noting that the operating costs of gas stations have increased amid continuous electricity outages and reliance on generators.