Outcry as Lebanon govt hikes fuel prices by more than 30%

We are going to start killing each other for fuel, says an outraged resident; US, France, Saudi Arabia push Lebanon’s leaders to come together to address the country’s mounting crises

BEIRUT

Lebanon hiked fuel prices by more than 30 per cent on Tuesday as it reduced subsidies that have eaten away at the central bank’s foreign currency reserves amid a painful economic crisis.

Petrol and diesel prices went up sharply, according to a revised price list published by the official National News Agency (NNA), in a week when a steep currency devaluation sparked angry street protests.

The fuel price rises, which will sharply affect the cost of other key commodities, come as Lebanon grapples with an economic crisis branded by the World Bank as one of the world’s worst since the mid-19th century.

The Lebanese pound — which has been pegged at 1,507 to the US dollar since 1997 — sold for more than 17,000 to the greenback on the black market this week, a record low.

Waiting in a crowd of scooters lined up for fuel, Noor Al Dean Radwan said life in Lebanon had become intolerable.

“We are disgusted with this life, we can’t do it anymore... every day we wait for more than one hour at the gas station,” the 37-year-old told reporters.

“We are going to start killing each other for fuel.”