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Factors Affecting Fuel Prices in Lebanon: Global Oil Prices, Exchange Rates, and Wars

Hassan Jaafar, Secretary of the Syndicate of Gas Station Owners, confirmed that “the rise in fuel prices in Lebanon is affected by two factors: the global price of a barrel of oil, the exchange rate on the black market, and the rise in oil globally as a result of the Russian and Ukrainian wars and the production cut plan.”
Jaafar indicated, in an interview with “Voice of Lebanon,” that “the rise in the price of domestic gasoline is linked to the rise in the price of a barrel of global oil.”

He demanded “not to tamper with the meters at the stations.”
And he concluded: “Machining” the dollar in the stations was a good step, and the evidence is that we did not close the stations when the exchange rate rose.

2023-08-30 07:30:03
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