Total gas station in Hazmieh, Lebanon on Jan. 25, 2022. (Credit: Matthieu Karam/L'Orient Today)
BEIRUT — Gas stations across Lebanon closed Wednesday morning, with long queues forming in front of the few that remained open, as the new daily fuel prices have not yet been published by the Energy of Ministry.
Fuel prices sharply increased in Lebanon on Tuesday as the Lebanese lira hit a new all-time low on the parallel market, trading at nearly LL55,000 against the dollar on Tuesday night.
The lira's fall has also seen rising prices of medicines and food.
In more than three years of economic crisis in Lebanon, the national currency has lost more than 97 percent of its value. Meanwhile, without a president or fully empowered cabinet, the Lebanese authorities continue to stall in adopting the reforms needed to halt the country's economic and financial collapse.