November 9, 2026
In light of regional military tensions and sharp fluctuations in global energy markets, fuel prices in Lebanon have witnessed a fluctuating path. The price of two cans of gasoline and diesel exceeded the threshold of $30, before trends reversed downward, driven by the decline in escalation fears between the United States and Iran.
On the international level, oil prices recorded a sharp decline, as Brent crude suffered weekly losses amounting to about 16%, the largest since the Corona pandemic in 2020, after which it continued its decline today, Monday, breaking the $100 per barrel barrier to settle at about $97.
In this context, the head of the Syndicate of Gas Station Owners in Lebanon, George Al-Barakas, revealed in a statement to “Lebanon Debate” that the price of a can of gasoline is likely to decrease tomorrow, Tuesday, by about 40 thousand Lebanese pounds, as a reflection of the decline in the prices of refined petroleum derivatives on global stock exchanges.
Brax attributed this decline to several factors that contributed to calming the markets, most notably the stability of the situation in the Arabian Gulf region, the results of the US midterm elections, and the decline in fears of military action, in addition to the statements of US President Donald Trump in which he ruled out carrying out new military strikes.
Brax indicated that the decline in gasoline prices will be more noticeable compared to diesel, given the weak global demand for gasoline in such a period.
He pointed out that gasoline prices in Lebanon have been on a downward trend for several weeks, in line with global markets. As a result of several factors, including the end of summer and the arrival of winter, the global economic downturn and the decline in purchasing power, which reduced reliance on private cars in favor of shared transportation and led to a decrease in global demand for gasoline. Regarding diesel, Al-Barakas explained that its prices are also declining, but at a slower pace compared to gasoline.
