With the price of diesel surpassing 900,000 Lebanese pounds and approaching one million, will we witness a terrifying scenario due to the scarcity of the material and the flourishing black market, especially with the high demand as winter approaches?
George Brax, a member of the Gas Station Owners Syndicate, confirms that “the price of diesel depends on the exchange rate of the dollar, which has been experiencing significant fluctuations recently... It has jumped and continues to rise. The higher the dollar soars, the higher the diesel price will be.” He notes that fluctuations in import prices will be slight during this period.
Regarding diesel scarcity, Brax asserts in an interview with MTV that “the quantities are sufficient at present, but we do not know what might happen as events develop.” He adds, “I do not see a black market at the moment... the concern is how families will manage to secure heating, especially in mountainous regions.”
On the other hand, Fadi Abou Chakra, a representative of fuel distributors, appears more pessimistic, stating, “In light of the dollar's runaway price in the markets, we will see everything, from scarcity and hoarding to a black market.” He adds, “Gasoline and diesel are paid for in cash dollars; the more the dollar rises, the more price increases we will witness.”
He emphasizes in an interview with MTV that “the officials are not taking action, and no one is asking. It is the citizens who are paying the price in these difficult conditions the country is going through... What is happening is a shame; the officials must find an appropriate solution.”
