Lebanese government raises fuel price
The World Bank said this month that the crisis is one of the worst in modern history.
Protests are ongoing in Lebanon against the country’s deteriorating economic crisis.
People took to the streets in the northern city of Tripoli on Saturday to protest the continued depreciation of the Lebanese pound. The currency was valued at its official rate of around 1,500 pounds to the US dollar for decades, but there are now multiple exchange rates being used in the country. The unofficial rate on the black market is approximately 17,000 pounds to the dollar or lower at present, reflecting a massive drop in value.
Protests also occurred across the country on Monday.
On Tuesday, the Lebanese news outlet The Daily Star reported that the government raised fuel prices by more than 35%. The price of 95-octane gasoline, which can be used in many normal-size vehicles, was set at 61,100 Lebanese pounds per 20 liters (5 gallons), an increase of 15,900 pounds. The same day, demonstrators blocked off roads in the country in protest. Some later reopened, according to Lebanon’s official National News Agency.
