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Lebanese utmost fear comes true: gasoline tank for 40,000 LBP

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21-04-2012 | 13:05

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Lebanese utmost fear comes true: gasoline tank for 40,000 LBP

Energy Minister Gebran Bassil signed on Saturday the price table of fuel, raising the 98-octane gasoline price to 40,000 LBP.

According to oil-importing companies, the price of a gasoline tank will start dropping by next week, adding that the decrease in prices will be slower than the pace of increase.

The weekly change in fuel prices will become routine in Lebanon so long as an agreement is not reached to set a ceiling for the gasoline tank prices. Setting a ceiling requires from the cabinet to take part of the taxes off the gasoline which will in turn cut down the state financial resources at a time when the oil-importing companies are adamant about having their financial gains unaffected.

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