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Nabil Fahed to LBCI: Fuel oil is an essential commodity for supermarkets

Lebanon Economy

29-06-2021 | 04:10

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Nabil Fahed to LBCI: Fuel oil is an essential commodity for supermarkets

Head of the supermarket owners' syndicate Nabil Fahed said on Tuesday that a number of supermarkets closed their doors because they run out of fuel, pointing out that they will reopen their doors in the event that they will have access to fuel oil.

Fahed’s comments were made during an interview with Nharkom Said TV show whereby he stressed that the fuel oil is an essential commodity for supermarkets.

He also noted that the increase in the cost of fuel oil will be reflected in the prices of commodities in supermarkets, revealing that the increase in the cost of fuel oil by 50% will lead to an increase in the prices of food commodities by at least 5%.

Fahed concluded by saying that the stock in supermarkets is priced in US dollars, adding that prices are set according to the suppliers' price lists."

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