Beirut: Energy and Water Minister, Joe Saddi, on Tuesday held a press conference outlining how Lebanon's fuel prices are determined and discussing oil imports from Iraq and electricity imports from Syria.
According to National news agency - Lebanon, Saddi said the rise in fuel prices in Lebanon has been lower than global increases, noting diesel prices rose 24% less than international levels despite higher shipping costs caused by the war. He added that gasoline price increases also remained below global levels and that authorities succeeded in preventing fuel shortages, long queues and black-market activity during the conflict.
He stressed that Lebanon's fuel prices are based on customs duties and average gasoline and diesel prices, not crude oil prices.