The Minister of Energy and Water, Walid Fiad, held a press meeting today, Tuesday, at the Ministry of Energy, where he launched the electronic application for fuel pricing in the presence of stakeholders in the sector. Fiad noted that "this step represents a new and advanced phase in the fuel sector journey, which we began at the ministry since the government took office in September 2021. In light of this reality, we started a gradual process of lifting support on fuel dollars until we completely removed it, making prices directly linked to global oil prices on one hand, and to the market dollar rate on the other." He pointed out that "these measures have saved the Central Bank's reserves more than 300 million dollars monthly and eliminated the queues at fuel stations, which have long posed a major problem."
Fiad announced that after conducting consultations with stakeholders in the sector and taking into account the opinions of regulatory bodies, a decision was made to prepare an easy and transparent electronic application accessible to everyone. This simplifies pricing procedures for management by enabling quick responses to market fluctuations while helping companies, distributors, and stations maintain their legal profit margins. Most importantly, it allows citizens to directly view prices, facilitates their tasks, and enables them to verify compliance with the official pricing outlined in the application.
Fiad emphasized that "this application has not cost the state a single dollar, and it is hoped to assist citizens and business owners while enabling us to manage the market fairly for everyone." He reaffirmed the Ministry of Energy and Water's commitment to absolute transparency, whether in terms of openness and full cooperation with the judiciary or regarding informing and involving the public in all matters related to how pricing is determined.
In this context, he thanked the support provided free of charge by the programming company "Profit-isle," which operates between the United States and Lebanon.
