Fuel prices have been steadily declining since September 26th until today, with this decline approaching 80,000 LBP, while the prices of consumer goods have never decreased, but rather prices have inflated unjustifiably, amid complete disregard from regulatory authorities or the concerned ministers.
The representative of fuel distributors in Lebanon, Fadi Abu Chakra, confirms to “Lebanon Debate” that “the decrease in fuel prices has reached 21,000 LBP on gasoline, bringing it to 1,415,000 LBP, and the decrease in diesel is 17,000 LBP, bringing its price to 1,334,000 LBP,” explaining that the reason for the decline is the decrease in global oil prices and the rise in gold prices, which reflects a decrease in oil prices.
He points out that “this directly affects Lebanon, positively for the benefit of the citizen, especially since the Lebanese are now on the verge of winter and their need for diesel fuel, especially in mountainous areas, in light of difficult economic conditions.”
He wished, as fuel distributors, for more “decline for the benefit of the citizen first, and for Lebanese industries with lower costs.”
Concerned sources ask: “Why don’t consumer goods prices decrease in Lebanon, especially since the argument of high prices has always been linked to the rise in fuel prices, while transportation has become less expensive and industries have reduced their fuel bill, so this should be reflected in the markets by lowering prices, not inflating them?”
The sources confirm that “the absence of oversight is what pushes merchants in Lebanon to easily raise prices and not adhere to reducing the bill with the decline in fuel prices,” and urged officials to follow up on this matter and not to use global security conditions as an excuse, especially what was happening in the Red Sea with the targeting of ships, which ended with the end of the war in Gaza.”
source: 961 today
