oil and gas

Halliburton to Provide Petroleum Data Ma...
April 13, 2021
Report: Diab to Sign Oil Import Agreemen...
April 11, 2021
Report: Lebanon Likely Has Gas Field in ...
April 6, 2021

oil and gasMarch 25, 2021

Brax: Gas station owners have borne heavy losses since beginning of economic crisis


NNA - Member of the Gas Station Owners’ Syndicate in Lebanon, George Brax, said on Wednesday that the increase in the prices of gasoline today was only LBP 400 due to the drop in oil prices this week of approximately USD 6 per barrel.

“The second reason is the fluctuation in the USD exchange rate within the past few days,” Brax added in a statement.

On the other hand, he explained that the delay in opening credits to oil-importing companies was still the main reason for fuel distribution rationing to the gas stations, noting that some companies have managed to obtain the required credit and unload their goods, while others have not yet obtained the approval of the Lebanese Central Bank “despite the fact that ships loaded with gasoline and diesel are located off the Lebanese coast, and fuel is available.”

As for the availability of diesel, Brax affirmed that it did not suffer a “suffocating crisis like gasoline due to the oil installations’ import of this substance (40%), and its weekly distribution of millions of liters to the local market.”

nna-leb