Gas prices are still dropping worldwide and 1 liter of fuel costs less than 1,000LL now in Lebanon, which is less than the average price of gasoline around the world (0.97 U.S. Dollar per liter).
Moreover, if we compare gasoline prices in Lebanon vs the Arab World, only GCC countries have cheaper oil prices than Lebanon, while countries like Egypt, Yemen, Tunisia and Syria have more expensive prices (Assuming this list is accurate).
There are talks about fixing the gas tank price at 25,000LL but I don’t understand the logic behind it. If the government wants to take action and help oil companies by fixing the price of 20 liters of gas, they should also prioritize the average citizen and set a maximum price but we all know this won’t work.
Till then, enjoy the low prices and start planning your winter road trips!
Gas Tank prices back in 2011 in Lebanon
if capped at 25,000 lbp, all revenue generated will go to the government since they are buying from oil companies at the global rate. Bling bling!