Update (20/01/2015): It appears that the government won’t be fixing any prices and the prices will drop by more than 1,000 Lebanese Lira tomorrow.
Gas prices have dropped by over 13,000 Lebanese Liras from last year until now in Lebanon, and they should normally continue to drop since oil prices are plunging worldwide. However, it appears that the Lebanese authorities and the concerned ministries want to put an end to this drop and set a minimum price for the tank. Moreover, there are talks that they might re-introduce a fixed amount that is related to internal distribution and governmental taxes and that was abolished by Gebran Bassil a couple of years ago.
Knowing that the prices are related to international market fluctuations, I don’t think it’s fair for the government to set a minimum price. If they want to compensate for the oil companies and gas stations’ losses, they should also set a maximum price and relieve the Lebanese from high fuel bills. If the government wants to take action and help oil companies by fixing the price of 20 liters of gas at 22,000, they should also prioritize the average citizen and set a maximum price.
On another note, I wonder if the drop in gas prices has anything to do with the increase in traffic lately.
