BEIRUT, Sept 19 (NNN-NNA) – Gas stations in Lebanon held, on Wednesday, a nationwide strike, as they were forced to pay higher rates, when exchanging Lebanese pounds into U.S. dollars.
“We are losing money because we buy fuel from our suppliers by paying in U.S. dollars, while we sell it at Lebanese pounds,” Sami Brax, head of the Syndicates of Gas Station Owners, was quoted as saying.
The uncertain financial situation in Lebanon prompted banks to be reluctant in issuing U.S. dollars, causing gas station owners to go to currency exchange offices, that have been charging 1,525 or 1,550 Lebanese pounds for one dollar, which is higher than the fixed official rate of 1,507.
Gas station owners need the U.S. dollars because they pay their suppliers with the U.S. currency.
Brax warned on Wednesday, to adopt measures, if the central bank fails to exchange their Lebanese pounds into U.S. dollars, using the fixed official rate.– NNN-NNA
