On Wednesday, the Ministry of Energy and Water explained in a statement “according to the principle of transparency and informing the public opinion”, the reason behind the increase in fuel prices in Lebanon.
It revealed that it received news from the Central Bank that fuel prices will be priced 85% at the Sayrafa rate (around LBP 25,600) and 15% at the Black Market rate (around LBP 29,750).
The grid released on Tuesday was based on the Sayrafa rate as it was usually based on before receiving the news and that is the reason behind the new fuel prices where the price for gasoline increased by LBP 14,000 while the price for diesel and gas didn’t change.
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