Gasoline prices rise in Lebanon and Sudan

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Wednesday 09 June 2021 | 12:59

Gasoline prices topped the Google search engine trends at the present time, especially after the countries of Lebanon and Sudan announced the increase in gasoline prices, as the General Directorate of Oil of the Lebanese Ministry of Energy and Water raised fuel prices starting today, Wednesday, bringing the price of 20 liters “98-octane gasoline” to 43 thousand pounds, while the price of “20 liters” of 95 gasoline reached 41,800 pounds, and the price of diesel was 30,000 pounds.Gasoline price hike in Lebanon
The General Directorate of Oil of the Ministry of Energy and Water stated that it obligated the owners of the stations to announce the selling price of fuel prominently in their stations and to work with these prices starting today.

Gasoline price hike details

She pointed out that the increase in the price of “20 liters” of 95 and 98 octane gasoline amounted to 900 pounds, while the increase in the price of diesel reached 1,400 pounds, and the price of a gas tube decreased by 300 pounds to 25,200 pounds.

The reason for the increase in gasoline prices in Lebanon
It is noteworthy that Lebanon is witnessing a crisis in the provision of fuel at the stations as a result of the economic crisis, as well as the difference in the exchange rate of the local currency against the US dollar, where the official exchange rate reaches 1500 Lebanese pounds per dollar, while the unofficial market exchange rate exceeded the 13,500 pounds per dollar.

Lebanon is witnessing a breakthrough in a number of crises, most notably the provision of the necessary fuel to operate the Electricité du Liban and the development of a plan to return depositors’ money in banks after nearly a year and a half of freezing their foreign currency accounts.

Gasoline prices rise in Sudan

On the other hand, the prices of gasoline and diesel in Sudan increased by 93% to reach the price of gasoline at 290 Sudanese pounds per liter, up from 150 pounds, and diesel at 285 Sudanese pounds per liter, up from 125 pounds, according to what the CNBC website reported. Arabic.

The reason for the increase in gasoline prices in Sudan

The Sudanese Ministry of Finance said in a statement today that Sudan decided to cancel all fuel prices within the framework of the state’s policy aimed at reforming the economy, and that the pricing process will be subject to the cost of imports.

She explained that the policy of liberalizing fuel prices, “which came too late, is enough to remove many distortions in the economy, as the state spends about one billion dollars annually in subsidies for fuel.”

Sudan has been experiencing an economic crisis since before the overthrow of Omar al-Bashir in 2019, which has led to a shortage of basic commodities such as fuel, bread and medicine.

Gasoline prices in Sudan

In early April, gasoline prices at several stations jumped to 150 Sudanese pounds per liter, compared to 122 pounds, while diesel prices rose to 125 Sudanese pounds, compared to 115 pounds.

Sudan started this year a package of new policies, which included the liberalization of fuel prices and a number of basic commodities, which increased fuel prices by 500%, which led to a rise in inflation rates to 330%.

In March 2021, Sudan announced the unification and liberation of the Sudanese pound, to stop further fluctuations in exchange rates, after the price of one dollar exceeded 400 pounds in the parallel market during the recent period.







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