icon bookmark-bicon bookmarkicon cameraicon checkicon chevron downicon chevron lefticon chevron righticon chevron upicon closeicon v-compressicon downloadicon editicon v-expandicon fbicon fileicon filtericon flag ruicon full chevron downicon full chevron lefticon full chevron righticon full chevron upicon gpicon insicon mailicon moveicon-musicicon mutedicon nomutedicon okicon v-pauseicon v-playicon searchicon shareicon sign inicon sign upicon stepbackicon stepforicon swipe downicon tagicon tagsicon tgicon trashicon twicon vkicon yticon wticon fm

Gas station queues & barricades: Lebanon faces worsening economic outlook as govt hikes fuel prices by 35% (PHOTOS)

Gas station queues & barricades: Lebanon faces worsening economic outlook as govt hikes fuel prices by 35% (PHOTOS)
A sharp increase in fuel prices is expected to exacerbate Lebanon’s internal woes, with the country already reeling from months of economic and political instability.

Lebanon’s Energy Ministry announced on Tuesday that it would raise gasoline prices by 35%, a decision that will likely cause a sharp increase in the cost of most commodities. The price of diesel saw an even larger increase of 38%. 

The steep price hikes came after interim prime minister Hassan Diab made changes to government allocations for petrol imports, effectively reducing fuel subsidies for Lebanese consumers. Although the changes were expected to temporarily ease a nationwide fuel shortage, Reuters published photographs on Tuesday showing long lines at gas stations around the country. 

RT

Over recent weeks, massive queues for petrol have reportedly led to fistfights and even shootings among frustrated motorists. Angry citizens across the country have erected barricades in the streets, motivated in part by the fuel shortages. 

Gas station queues & barricades: Lebanon faces worsening economic outlook as govt hikes fuel prices by 35% (PHOTOS)

The situation is so dire that planned power outages have become daily occurrences, and even private generators are regularly shut off in order to conserve fuel. Last week, the Lebanese government raised the price of subsidized bread by 18% – marking the fifth time in the past year that the basic staple saw its price go up.  

On Monday, dozens of demonstrators laid siege to the Lebanese Swiss Bank in Beirut, demanding access to cash reserves in order to alleviate dire living conditions. Three staff members of the bank were reportedly attacked during the incident. The protesters, led by the Banin Charity Association, a self-described NGO, accused the bank of stealing money from the Lebanese people. Police were called to the scene to remove demonstrators from the building and unblock the surrounding roads.

RT

Lebanon is facing an unprecedented economic catastrophe that has been worsened by months of political deadlock. The World Bank recently said the crisis is among the worst the world has seen in more than a century. The seemingly insurmountable political and economic problems were made worse by a devastating explosion in the Port of Beirut last August, which caused extensive damage to a large portion of the city. 

Also on rt.com WATCH: Beirut bank STORMED by angry protesters, group claims $180k of 'stolen' cash recovered for people of Lebanon

Like this story? Share it with a friend!

Dear readers and commenters,

We have implemented a new engine for our comment section. We hope the transition goes smoothly for all of you. Unfortunately, the comments made before the change have been lost due to a technical problem. We are working on restoring them, and hoping to see you fill up the comment section with new ones. You should still be able to log in to comment using your social-media profiles, but if you signed up under an RT profile before, you are invited to create a new profile with the new commenting system.

Sorry for the inconvenience, and looking forward to your future comments,

RT Team.

Podcasts