A man fills the tank of his moped in Beirut. (Credit: João Sousa/ L'Orient Today)
BEIRUT — Following numerous meetings, the gasoline import subsidy mechanism was finally modified, and the ratio of US dollars obtainable at BDL's Sayrafa rate increased from 85 percent to 100 percent, announced Georges Brax, spokesman for the gas station owners' syndicate, on Thursday evening.
Here's what we know:
This announcement was made after numerous meetings between Energy Minister Walid Fayad and several players in the sector, ranging from service stations to importers and distributors.
The minister also spoke with the Banque du Liban Governor Riad Salameh, asking him to "maintain a mechanism for subsidizing fuel imports for two months," according to Brax. This would leave the newly announced measures in place until mid-May, coinciding with Lebanon's May 15 parliamentary elections.
Thursday afternoon, the Energy Ministry published the new prices for diesel fuel and heating oil, two fuels that are no longer subsidized by the central bank. A few hours later, new gasoline prices, now 100 percent subsidized, followed.
As Thursday comes to a close, the new fuel prices are as follows: 20 liters of 95-octane gasoline increased by LL25,000, reaching LL459,000. 20 liters of 98-octane gasoline increased by LL26,000, reaching LL470,000. 20 liters of diesel now cost LL522,000, up LL42,000. A cylinder of household gas now costs LL319,000, up LL19,000.