Fadi Abu Chakra, the representative of fuel distributors in Lebanon, revealed that a request was made today to the caretaker Prime Minister, Najib Mikati, and the Minister of Energy, Walid Fayyad, to set the prices of gasoline and diesel in dollars, allowing the price at the stations to be in dollars and its equivalent in Lebanese pounds. It is noted that stations have been pricing diesel in dollars for months.
In a statement to the Al-Anbaa electronic newspaper regarding this request, Abu Chakra mentioned that sales at the stations have decreased by 40% to 45% whenever there is a price increase, asserting, "For us as fuel distributors, we confirm that the rise in fuel prices harms us before it harms the citizen, although there is a significant harm to the citizen, we are affected by reduced sales."
Regarding the existence of two price tables for fuel in the morning and afternoon, Abu Chakra views this as "an existing reality that we cannot evade," but he believes that if pricing becomes dollar-based, they can evade it, as the price would then be known in dollars and its equivalent in Lebanese pounds. He anticipates that "the pressure from stations and distributors on the dollar price will ease."
Abu Chakra pointed out, "We all see the skyrocketing dollar prices; the purpose of the two tables is to enable station owners to keep up with the fluctuations in the dollar exchange rate, as they buy goods in dollars and sell to citizens in Lebanese pounds. Additionally, the dollar price fluctuates globally, but significant movement occurs in local markets due to the soaring dollar price."
He concluded: "As a representative of fuel distributors, based on my meetings, I see everything in Lebanon heading towards dollarization, which concerns me, as there are no controls on the dollar price, nor does any official or person in the Lebanese state make decisions to curb the rise of the dollar currently seen in Lebanon."
