Brax Slams Bassil's 'Malicious' Acts as Fuel Prices Drop
Gasoline Station Owners Syndicate President Sami Brax lashed out at Energy Minister Jebran Bassil, accusing him of carrying out malicious acts against the owners of stations as fuel prices dropped for the second week in a row.
“We don't profit from any decline in gasoline prices... We urge the minister to reconsider the percentage of profit collected by gas stations,” Brax told Voice of Lebanon radio (100.5) on Wednesday.
The cabinet approved on Tuesday a proposal by the Energy Ministry to increase the profits of owners of gas stations on every 20 liters of gasoline sold.
The prices of fuel dropped for the second week after the weekly update of prices showed further decrease of LL600 on gasoline prices and LL400 on diesel prices.
The price of 95-octane rated fuel now costs LL36,200, while the 98-octane rated fuel is selling at LL36,900.
The price of diesel now sells at LL27,700.
Soaring fuel prices have exacerbated Lebanon’s already battered economy as rising production costs put more pressure on industrialists and farmers.
The transportation sector had continuously staged several similar strikes.
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