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MTV Lebanon
Lebanon Gasoline Price Trends
Fuel prices in Lebanon have noticeably decreased due to the drop in the global oil barrel price. The price of a liter of gasoline has fallen by approximately 92,000 Lebanese pounds since the beginning of the year, reaching around 2,585,000 pounds on May 25th. This decline is expected to continue into next week if the situation in the region remains unchanged, as the oil barrel price continues to fall below $90. However, a return to $60 per barrel is unlikely in the near future. Georges Brax, head of the Fuel Stations Syndicate, attributed this decline to reduced oil supplies caused by tensions between the United States and Iran, as well as the deteriorating security situation in the region.
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