Russian diesel may impact Lebanon fuel prices

Fuel prices in Lebanon have experienced ongoing fluctuations, with the price of a tank of diesel (safiha) declining to around 2.614 million Lebanese pounds. However, the market continues to be influenced by the volatility of global oil prices and changes in supply. The head of the Fuel Station Owners' Syndicate raised questions about the extent to which the additional quantities of Russian diesel being gradually introduced—ranging from 300,000 tons per month up to one million tons in December—might impact price reductions amid increasing global demand and the need to balance the markets. It is expected that the influx of Russian diesel will affect local fuel prices if it can meet demand and absorb inflationary pressures during the winter season, which would, in turn, influence operating costs for generators and businesses across Lebanon.

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