Gas stations consider closure amid calls for US Dollar pricing formula

Lebanon News
21-03-2023 | 06:33
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Gas stations consider closure amid calls for US Dollar pricing formula
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Gas stations consider closure amid calls for US Dollar pricing formula

Gas stations across the country are considering closure as calls for a pricing and payment formula in US dollars intensify amidst volatile exchange rates. The move aims to address fluctuating gas prices that have been causing uncertainty and instability in the market.
 
Head of the Union of workers and employees of fuel companies in Lebanon, Walid Dib, stated that "what is happening in the Lebanese fuel markets is a ‘big farce,’ and the concerned minister, who is currently out of the country, should issue a single price list instead of multiple lists in one day, based on the latest exchange rate of the US dollar.
 
He went on to say that the difference in prices should be settled the next morning, whether it has increased or decreased.
 
Dib then explained that setting the USD exchange rate starts at 10 am and issuing the list after this time causes chaos, confusion, and instability in the market, in addition to ignoring the promised implementation which is an unsuccessful way to control the market."
 
He concluded by saying that "the fuel that is supposed to light up the country is burning it."
 

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Closure

Exchange Rate

Volatile

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