Gas Station Owners’ Syndicate member, Dr. George Brax, on Friday said that gas station owners were incurring a loss of LBP 2500 per 20 liters of gasoline due to the discrepancy in the US dollar exchange.

The US dollar’s market rate is currently at LBP 30,000 pounds, whereas in the fuel prices grid, the US dollar price remains at LBP 28,800.

“The absence of a new pricing grid as per the new USD price will only increase these losses,” Brax warned.

“When the authorities urge gas stations to sell fuel at a specific price in LBP, it also has to secure fresh dollars for imports; the owners of gas stations are not money changers!” Brax exclaimed.

“To avoid a return of the gasoline crisis, fuel should be secured to gas stations only in LBP, so as to be delivered to consumers in the same currency. The Lebanese Central Bank must secure US dollars for import,” Brax added.

Source: National News Agency