George Brax, a member of the Union of Fuel Station Owners, pointed out that "gasoline is a basic necessity; a car cannot operate without it. Despite this, there is a red line that individuals cannot go below, and they cannot switch types of gasoline like they can with food, especially in a context where public transport and rail systems are absent." Therefore, even with the decline in consumption, it cannot be eliminated.
In an interview with "Nidaa Al-Watan," he explained that this is evident from recent figures indicating that "in 2019, the country's import needs for gasoline were valued at 7.700 million liters per day, and by 2021 this number fell to 6.500 million liters, marking a decrease of 16% in consumption. The decline has continued since the beginning of this year."
This decline is certainly linked to the rising prices of gasoline correlating with the dollar's increase and the global price of oil, with Brax highlighting the price evolution of gasoline over the past two and a half years as follows: "On January 1, 2021, a gasoline canister was priced at 26,400 LBP, and when discussions began on lifting subsidies in June 2021, it had escalated to 41,800 LBP. In July 2021, the process of lifting subsidies started, with the price of the canister around 70,000 LBP, reaching 335,800 LBP by the end of the year. This means that within 8 months, the price increased by 265,000 LBP, resulting in an increase of 309,000 LBP in 2021 alone."
Regarding the current year, he added: "The year began with a price of 335,000 LBP, and today, after 5 months, we have reached 597,000 LBP (before a sudden dollar devaluation of 10,000 LBP in one day), marking an increase of 262,000 LBP. In the month of May alone, the gasoline canister's price rose by more than 100,000 LBP."
All these developments have led citizens to hesitate in using super gasoline, or 98 octane. In 2018, the price of a 98 octane gasoline canister constituted 14% of gasoline sales in the country, while in 2021 it fell to 2%, with the remaining percentage shifting to purchases of 95 octane.
