For the second time since taking office only two weeks ago (MEES, 17 September), Lebanon’s new energy minister Walid Fayad has hiked fuel prices. On 17 September, his first directive raised RON 95 gasoline prices from LBP6,320/liter to LBP8,715, an increase of 38%, this was followed by another 16% hike to LBP10,120 on 22 September.
Diesel saw an overall 65% jump from LBP4,930 to LBP8,135/liter. Documents issued by the ministry’s Directorate General of Oil (DGO) to fuel importers and seen by MEES, show that imported fuel is now categorized as “non-subsidized.” (CONTINUED - 375 WORDS)
