Gas Distributors Syndicate calls for pricing gas canisters in dollars

News Bulletin Reports
2023-01-24 | 11:22
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Gas Distributors Syndicate calls for pricing gas canisters in dollars
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Gas Distributors Syndicate calls for pricing gas canisters in dollars

The price of a gas canister sold by distributors to commercial stores is 11.38 dollars, plus 400 Lebanese lira for each canister, according to the table of gas sales prices in Lebanon that was released on Tuesday.

The store adds a commission of 5000 Lebanese lira.

The Ministry of Energy's price, which determined the dollar to be worth 53,400 Lebanese lira, results in a selling price to the consumer of 613,000 Lebanese lira.

On paper, this is true, but the reality is different.

With the continuous rise of the dollar, shop owners confirm that they cannot abide by the price set by the Ministry of Energy, which last time calculated the dollar for a canister at 53,400 Lebanese lira, while today it is close to 55,000 Lebanese lira on the black market.

Store owners use the insane daytime rise in the dollar to justify not adhering to the Ministry of Energy's pricing.
They claim that they are forced to sell the canister in Lebanese lira at a price set by the Ministry of Energy after purchasing it from distribution companies in dollars or at a black market price.

Distributors have another version.

Although distributors confirm that they collect payment from shop owners in accordance with the ministry's dollar pricing, which results in significant losses for them.
The Gas Distributors Syndicate, representing both retail and wholesale distributors, has urged the Minister of Energy to devise a workable solution to avoid having to stop all distribution.
The Syndicate suggested that one of the answers lies in allowing stores to sell in fresh dollars or its equivalent at the rate of the black market, allowing store owners to purchase the product from distributors in dollars or at the market rate.

Distributors and shops trade accusations of causing losses and agree that the price should be in dollars, with only the citizen footing the gaping hole.

How about the Ministry of Energy?

Pricing in dollars won't be the answer, according to ministry sources that LBCI has learned. 
The sources emphasized that the Ministry of Energy is collaborating with the Legislation and Consultations Authority to explore all legal options, including providing two daily market prices—one in dollars and the other in Lebanese lira.
 
 

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