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The Reason for Decline in Fuel Prices and the Impact on Visa Card Payments: Insights from Lebanon’s Fuel Distributor Representative

“The fuel price table witnessed a significant decline in prices, while this decline remained slight for diesel fuel, as it recorded a decline of 54 thousand liras for both types of gasoline and 17 thousand liras for diesel fuel. What prompted this decline, especially since the decline was slight this week?”

The representative of fuel distributors in Lebanon, Fadi Abu Chakra, explained in an interview with “Lebanon Debate” that, “The reason for the decline is the decline in global oil prices, which certainly affected the local markets, and this is a positive thing.”

He believes that “as fuel distributors, they have been waiting for this matter for a long time because they feel with the citizen in light of the difficult economic hardship, especially at the beginning of winter, which is what comforts the Lebanese people in general.”

As for the refusal of some stations to accept Visa Cards to pay for fuel, he points out that “this matter is due to the decision of the Ministry of Finance, specifically the Customs Administration, to refrain from receiving checks from station owners and importing companies. The decision requires receiving the amount in cash after part of this money was paid via Checks: Therefore, the stations refrained from accepting Visa cards starting from the beginning of the month.

He explains, as fuel distributors, that “the refusal to arrest people through visas does not target citizens, but there is no longer any transfer of money into banks.”

2023-10-06 09:20:56
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