Fuel tanks seized by the Lebanese Army. (Credit: Lebanese Army)
BEIRUT — The Lebanese Army on Sunday continued operations launched the day before to seize illegal stocks of hoarded fuel and ensure gas stations sell their reserves to customers at the official subsidized rate of LL3,900 to the dollar.
Here’s what we know:
• The army seized eight fuel tanks that were being held behind a house in the Nabi Osman area of Ras Baalbeck, close to the border with Syria. The tanks held almost 200,000 liters of diesel and 130,000 liters of gasoline.
• Security forces also uncovered hoarded fuel stocks in the areas of Deir Koubel, south of Beirut, and Jeita in Kesrouan, according to information posted by the army on its Twitter account.
• The army raided several closed gas stations across Lebanon, obliging their owners to switch on their fuel pumps and sell their stocks.
• The seizures and raids followed an agreement reached on Saturday between Banque du Liban and the Energy Ministry to sell stocks of imported fuel already in the country at the subsidized rate of LL3,900 to the dollar.
• The move comes in anticipation of the issuance of a new price list for fuels in the coming days following BDL’s announcement last Wednesday that it would end fuel subsidies. Removing these subsidies means that fuel will be priced in line with the lira’s exchange rate on the parallel market — presently about LL20,000 to the US dollar.
• The BDL-Energy Ministry agreement, which concerns only stocks of gasoline available in Lebanon and does not extend to future imports, is expected to alleviate, if only for a few days, the serious fuel shortages across the country.
• Fuel shortages have wreaked havoc on households, businesses and a range of essential services, including health care, across the country. Early Sunday morning, 28 people were killed and dozens injured when a fuel truck exploded in the Akkar town of Tleil as residents gathered to fill their tanks.