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Fueling corruption: How gas stations profit by manipulating exchange rates
Lebanon Economy
2023-04-28 | 07:26
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Fueling corruption: How gas stations profit by manipulating exchange rates
If a gas station calculated 20 dollars based on an exchange rate of 95,000 Lebanese lira rather than 97,500, the station is therefore making an extra profit of 44,000 Lebanese lira more than the government's price.
The Ministry of Energy determines the price of 20 liters in Lebanese lira and sets the exchange rate. Therefore, gas stations are required to abide by this price to price the tank in dollars.
However, it is clear that some gas stations are not complying with the price.
Sources from gas station owners confirm that manipulation of the exchange rate is often done by employees.
At the end of the day, the station owner collects the revenues from employers according to the liters meter on the machine and the exchange rate set by the application.
The Ministry of Energy has confirmed that this practice is illegal and encouraged any citizen who observes pricing violations to file a complaint with the Ministry of Economy through the Consumer Protection Lebanon application or the hotline at 1739.
In any case, it is best to avoid all of this hassle and any manipulation of the exchange rate by sticking to paying in Lebanese liras.
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