Lebanon's Jumblatt backs stopping fuel subsidies, says 'supply is going to Syria'

Leading Lebanese Druze politician Walid Jumblatt of the Progressive Socialist Party said on Thursday that subsidies must end after the central bank decided to effectively halt support for fuel imports.

"There is no escape from removing subsidies because the supply is going to Syria," he said in a televised news conference. "If we continue with subsidies, not one penny of the obligatory reserve will remain, and that will be the catastrophe," he leader said.

Jumblatt is strongly against the regime in Syria and in 2016 said he would 'prefer to commit suicide' than reconcile with its president, Bashar Al-Assad.

Despite the central bank deciding to end fuel subsidies, fuel prices in Lebanon that were issued on Wednesday still apply and are binding on companies and gas stations, the oil directorate said on Thursday.

In a statement, the directorate said fuel prices being circulated by media were not accurate and were based on assumptions.

(Reuters)