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Lebanon's Gasoline Prices Up as Subsidies Are Ended

September 20, 1987|Associated Press

BEIRUT — Gasoline prices in Lebanon more than doubled Saturday after the government abandoned fuel subsidies in an attempt to ease the financial burden caused by the rapid decline in the value of its pound against foreign currencies.

State radio said that the price of 20 liters (5.2 gallons) of gasoline jumped to $2.30 from the government-set price of 94 cents Friday.

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