Prices at pump soar by 70% in Lebanon after new subsidy cut
Published: 03:08 PM,Aug 22,2021 | EDITED : 07:08 PM,Aug 22,2021
A worker fills up a car with fuel at a gas station in Beirut. — Reuters
BEIRUT: Lebanese fuel prices soared by up to 70 per cent Sunday after yet another subsidy cut, official figures showed, heaping more pressure on people struggling to make ends meet in the cash-strapped country.
The cost of hydrocarbon fuels in Lebanon has now roughly tripled in the two months since the central bank started decreasing its support for imports.
The latest cut, which is expected to cause price hikes for other key commodities, comes as the Mediterranean country is mired in one of the world’s worst economic crises since the 1850s.
Dire shortages have seen Lebanon’s people struggle to find enough fuel to drive to work or power back-up generators during near round-the-clock electricity cuts.
Motorists have become caught up in long lines outside the petrol stations that have remained open.
The refusal of many petrol stations to sell what they do have saw the army deploy this month to seize hoarded fuel and distribute it to the needy.
Frustrations have boiled over in recent weeks, with scuffles repeatedly breaking out over scarce fuel, leaving at least three people dead. — AFP
The cost of hydrocarbon fuels in Lebanon has now roughly tripled in the two months since the central bank started decreasing its support for imports.
The latest cut, which is expected to cause price hikes for other key commodities, comes as the Mediterranean country is mired in one of the world’s worst economic crises since the 1850s.
Dire shortages have seen Lebanon’s people struggle to find enough fuel to drive to work or power back-up generators during near round-the-clock electricity cuts.
Motorists have become caught up in long lines outside the petrol stations that have remained open.
The refusal of many petrol stations to sell what they do have saw the army deploy this month to seize hoarded fuel and distribute it to the needy.
Frustrations have boiled over in recent weeks, with scuffles repeatedly breaking out over scarce fuel, leaving at least three people dead. — AFP