“This rush of people led to run out of fuel. “There are $3 billion worth of fuel imports annually, so lifting subsidies will not be easy”, he told NNA.įadi Abou Shakra, a representative of fuel distributors in Lebanon, blamed the shortage at petrol stations on rumours which he said caused people to panic-buy fuel. He added that there were no plans to lift subsidies on fuel, despite media speculation recently that the Lebanese Central Bank will soon stop funding essential goods as dollar reserves dry up.īrax warned though that any potential lifting of subsidies would not only affect the price of gasoline, but all other commodities. “A ship carrying large quantities of fuel has obtained the approval of the Central Bank and had started unloading in privately-owned depots,” Brax told the Lebanese National News Agency (NNA). George Brax, a member of the Lebanese Syndicate of Gas Station Owners, however reassured people on Monday that the fuel crisis was on its way to being solved. A severe crisis has taken its toll on nearly every sector of the Lebanese economy in recent months, with the Lebanese national currency hitting unprecedented lows against the dollar. Long lines of vehicles were seen queueing up at stations nationwide waiting to fill up. While some petrol stations were offering a minimal amount of fuel - worth 20 US dollars - to motorists, others had completely stopped serving customers all together.
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