Following the Lebanese government’s decision to impose an additional fuel surcharge of 300,000 liras, gasoline prices have seen an increasing rise. Concern is growing about the continuation of this rise in light of the continuing changes in global oil prices. With every new increase in prices, people’s fear increases that this basic item will become a daily burden that negatively affects Lebanese families and reduces their remaining purchasing power.
In this context, Fadi Abu Shakra, representative of fuel distributors in Lebanon, explained in an interview with, that the price of gasoline rose today, Tuesday, by about 6,000 liras, bringing the price of a plate to one million seven hundred and ninety-nine thousand Lebanese pounds, which is equivalent to about 20.05 US dollars at the current market price. This means that the price of a liter of gasoline in Lebanon has already exceeded the one dollar barrier.
Abu Chakra pointed out that global increases in oil prices are still uncertain, due to international tensions and geopolitical turmoil that directly affect oil prices. He added that the question now is how far the price of a barrel can reach globally.
The impact of the increase was not limited to prices only, but also extended to include the volume of consumption. He revealed that the Lebanese market is witnessing a significant decline in gasoline sales by approximately 30% since the tax was imposed until today, which clearly indicates the amount of pressure that citizens are suffering from.
He stressed that the continuation of this upward trend, combined with the decline in consumption, may have a negative impact on the entire economy, especially since fuel is considered the lifeblood of transportation, production and services in the country.
Under these circumstances, the citizen remains the weaker party in an equation in which local taxes are intertwined with the fluctuations of global markets. Between the volatile price of a barrel of oil and the fixed tax, the Lebanese pay a double bill every day. The question arises: Are there measures that will reduce the burden, or are there more increases on the way?
