October 11, 2026
The head of the Syndicate of Gas Station Owners in Lebanon, Georges Al-Barakas, raised questions about the repercussions of the agreement concluded between US President Donald Trump and Russian Vladimir Putin on global diesel prices, at a time when the markets recorded an immediate reaction with a decline in futures contracts.
In a tweet posted on the “X” platform, Brax wondered whether President Putin’s response to his American counterpart’s request to pump additional quantities of diesel would lead to a reduction in prices, or whether the quantities planned to be pumped monthly – which start with 300 thousand tons, rising to 500 thousand tons, reaching one million tons in December – will remain insufficient to meet the growing global demand.
In the same context, the Wall Street Journal indicated that the American markets provided an initial response to the agreement, as diesel futures witnessed a decline of about 4.5% to settle at $4.67 per gallon during Friday’s trading.
The agreement announced by President Trump includes the immediate supply of more than 300,000 tons, followed by the pumping of 500,000 tons during the month of November, then one million tons in the next stage, in addition to additional quantities determined according to the production capacity of Russian refineries.
Although the current decline in the markets reflects an early response to expected supplies, it does not represent confirmation of the continuation of this downward trend or its size, nor does it necessarily mean that it will be reflected in the same proportion on the price of diesel fuel in the local Lebanese market.
The main concern of the Lebanese street remains related to when this decline will be reflected in the official fuel price schedule, which is a matter whose response, according to the data, is linked to the prices of imported shipments, transportation costs, and the time mechanisms for adopting the new pricing.
