Public Actions

Banque du Liban lowers fuel subsidies

Date: 
Wednesday, July 27, 2022

Banque du Liban decided Wednesday to secure 15 percent of the US dollars paid to import gasoline at the parallel market rate, and 85 percent at the Banque du Liban’s Sayrafa rate, which as of Wednesday stands at LL29,600 and LL25,600, respectively, Georges Brax, spokesman for the Union of Gas Station Owners, told L’Orient Today. BDL just backpedaled on a decision taken in March to increase the ratio of US dollars obtainable at BDL's Sayrafa rate from 85 percent to 100 percent to purchase gasoline. Affected by this decision, prices of 20 liters of 95 and 98-octane gasoline increased Wednesday by LL14,000 reaching LL605,000 and LL617,000, respectively.

Acting Bodies: 
Banque du Liban (BDL)
Type: 
Resolutions
Categories: 
Economic measures (State budget, rent law, wages...)
Impact: 
National
Status: 
Approved/ Ratified
Civil Society Response: 
Contested