The Lebanese government has raised fuel prices by more than a third, Reuters reported.

The government effectively cut fuel subsidies last week as Lebanon struggles with a catastrophic economic collapse that has caused its currency to fall more than 90% in less than two years.

The energy department said the average price of 20 liters of gasoline has been increased by 35% to 61,100 Lebanese pounds. This is equivalent to $ 40 at the official Lebanese exchange rate, but less than $ 4 at the parallel market exchange rate. Diesel prices rose 38% to £ 46,100.

Motorists queue for hours to partially fill their tanks while waiting for new deliveries.

On Monday in Beirut, protesters blocked roads in protest. President Michel Aoun said the new prices should ease the crisis.

The central bank said it would begin providing credit lines for fuel imports at £ 3,900 per dollar, below the official exchange rate of £ 1,500 applied under the subsidy program.

The dealer said dollars changed hands on Tuesday in a parallel market at around £ 16,700.