Lebanon to allow price of oil to float if market rises further
Energy minister: we are not making any money on fuel
By Osama Habib
Daily Star staff
Saturday, October 20, 2007
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The Lebanese government cannot afford to subsidize the prices of oil and its derivatives if these rates exceed the local official threshold, Acting Energy Minister Mohammad Safadi said on Friday. "We are not making any revenues from the sale of gasoline and oil after the prices in the international markets reached [record] high levels.
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