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Beirut: trending stations fuel in LebanonTo stop receiving customers within the next few days, due to the depletion of derivatives from its stations and storage wells.
This came according to press statements, on Wednesday, by the representative of fuel distributors in Lebanon, Fadi Abu Chakra, at a time when the country is witnessing a sharp decline in the import of oil derivatives due to the lack of liquidity in foreign exchange.
In a statement to local media, including Radio Free Lebanon, Abu Chakra warned of the negative current situation in the fuel sector, “however, contacts are continuing with those concerned, and the matter cannot be postponed.”
He believed that the crisis could be resolved within 24 hours, if a decision was taken to open the financial credits needed to unload the ships on the Lebanese coast.
For months, companies that supply fuel needed to produce energy or vehicles for the local market have required that the value of shipments be transferred in advance before unloading their cargo in wells located near ports.
The scene of citizens’ queues and vehicles in front of gas stations, has become part of the details of daily life in various governorates.
The Central Bank of Lebanon subsidizes 85 percent of the cost of importing fuels, by covering the difference between the official dollar exchange rate (1,515 pounds) and the parallel market (currently 13,000 pounds).
During 2020, the cost of support for importing gasoline amounted to 963 million dollars, and diesel 1.075 billion dollars, according to official data, at a time when the central bank is suffering an accelerating decline in foreign currency reserves.
Lebanon consumes 12 million liters of fuel daily, and each imported ship contains 40 million liters of these materials.
On Wednesday, fuel prices increased, as the price of a can of gasoline (20 liters) reached 41,800 pounds (28 dollars according to the official price), while the price of diesel was 30 thousand Lebanese pounds (20 dollars).