Fuel prices in Lebanon remain stable
Fuel prices in Lebanon this Wednesday remained unchanged from the previous week. The cost of gasoline had been expected to increase by LL200 this week but gas stations across the country charged people the same prices as last week; LL39,700 for the 98-graded octane variety and LL39,000 for the 95-graded octane kind.
The cost of Kerosene gas remains LL31,300 and the price of diesel is still LL29,200. All prices are per 20 liters of fuel. Leaders of the public transportation sector will hold a meeting later Wednesday to formally announce that a strike scheduled for April 19 will be delayed following “positive” talks with Prime Minister Najib Mikati.
The sector is asking the government to cap soaring fuel prices and increase the family compensation allowance for taxi and minivan drivers. Mikati has said that the increase in oil prices is linked to a rise in international prices over which the government has no control but that it will do its best to help unions cope with the increase.
Brent June crude edged up Tuesday 10 cents to $118.78 a barrel, having swung between $117.98 and $119.34 while the U.S. May crude futures rose $1.27 to settle at $104.20, the highest close since April 2, after reaching $105.07.
- Egyptian stocks plummet as Yemen confict deepens
- Mission to Mars: UAE plans Arab region's first unmanned probe
- Supervising the stoners: Egyptian tobacco traders call for the legalization of cannabis
- Ethiopia launches $2.8m research survey for Nile basin development
- UAE sweetens flotation regulations to attract more investment