LEBANON

Lebanon Raises Product Prices

The Lebanese Minister of Industry and Oil, and Economy and Trade, Mr. Victor Qasir, has issued two decrees raising the local cost of petroleum products in Lebanon by up to 62% effective 20 June 1987. Once again the steep increase was occasioned by the continuing slide in the value of the Lebanese pound, which last week fell to more than $1 = LL140. Product prices were previously raised in June 1986 and again in January 1987. At a press conference...