Jan 11 2022 - 04:03
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Brax explains reason behind increase of fuel prices

Member of the Syndicate of Petrol Station Owners in Lebanon George Brax stated Lebanon, news ,lbci ,أخبار Crisis, Lebanon, Gasoline,Fuel,Member of the Syndicate of Petrol Station Owners in Lebanon George Brax stated
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Brax explains reason behind increase of fuel prices
Lebanon News

Member of the Syndicate of Petrol Station Owners in Lebanon George Brax stated on Tuesday following an increase in fuel prices that “fuel prices have risen internationally and the US dollar’s exchange rate in Lebanon have been rising like crazy just like last week,” highlighting that “these are the reasons fuel prices are increasing and will continue to increase in the next fuel prices table.”

 
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“The Central Bank of Lebanon raised the exchange rate of the dollar it provides for importing 85% of fuel from 23,500 LBP to 24,600 LBP,” he explained adding that “the exchange rate, used in the fuel prices table for the import of the remaining 15 percent is usually calculated based on equivalent markets."

 

“The exchange rate for the 15% that gas station owners and import firms must provide in cash has climbed from 28,787 LBP to 30,837 LBP,” he added.

 

In terms of today's imported fuel costs, he revealed that the price of one kiloliter of gasoline has climbed 11.93 dollars in the table, to 599.93 USD instead of 588 USD in the previous table, and that the price of one kiloliter of diesel has risen 14 dollars, from 601 USD to 615 USD.

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