Tag(s):
gasoline fuel prices in Lebanon ,
Lebanon crisis ,
black market ,
exchange rate ,
oil ,
oil and gas ,
oil prices ,
Banque Du Liban ,
BDL ,
gasoline ,
diesel ,
cash transfer ,
World Bank
Another recognition for IPT website, with its useful time series for gasoline/diesel prices in Lebanon, available in the "Fuel Prices" page. The valuable data provided in this specific page was used by the Economist Ramona Moubarak, the Head of Country Risk Analysis at Bank Byblos Group, to come up with the above chart.
* You can always refer to the "Fuel Prices" page on IPT website where you can check the history and weekly changes of the local and international fuel prices supported with charts.
Feb 2021,
Gasoline prices in #Lebanon broadly in line with global #oil prices taking into account Banque du Liban hydrocarbon subsidies in place since September 2019.
About LBP81,000: Cost of 20L of gasoline
98 Octane, excluding taxes, based on the black market exchange rate, instead of LBP28,200 currently.
#BDL spent around $2.5bn in 2020 to subsidize #gasoline and #diesel. A phased approach to lifting #subsidies and introduction of cash transfer mechanism can result in average net savings of $2.6bn annually over five years, according to The World Bank.
No more time to waste, no more dollars to waste, time to reform the #subsidy system and introduce a targeted and more efficient system to protect what's left of depositors money. Read more
#lebanoncrisis