Fuel prices slip as Parliament moves on electricity and wages
Petrol and diesel prices fell in the latest pricing round while the household gas cylinder rose, with the official dollar rate steady at 89,500 pounds. Parliament approved an additional $100 million credit for Electricité du Liban and raised support for solar loans to $20 million, alongside a $200 million World Bank loan for the AMAN programme. Meanwhile, the United Nations warned that more than one million people in Lebanon face acute food insecurity, and the teachers' union demanded the release of 200 billion pounds for retired educators.
Fuel falls, cooking gas rises
The price of a 95-octane petrol canister fell to 2,445,000 pounds from 2,492,000, 98-octane to 2,463,000 from 2,510,000, and diesel to 2,559,000 from 2,579,000. The 10-kg household gas cylinder, however, rose to 1,640,000 pounds from 1,610,000. Gold edged down, with the ounce at $3,906 versus $3,915 and the 21-carat gram at about $109.88 versus $110.13. On food, the United Nations warned that more than one million people in Lebanon face high levels of acute food insecurity — 21 percent of those analysed between September 2026 and February 2027 — with the number possibly rising to 1.15 million by mid-2027.
Pound steady officially; IMF reviews banks
The official dollar rate held at 89,500 pounds, while the euro stood at 99,060 pounds against 99,459 previously. Middle East Online reported that the International Monetary Fund is studying a strategy to reform Lebanese banks, as the IMF mission prepares to leave Lebanon amid anticipation of the outcome of its talks with officials. Parliament approved an amendment to Article 5 of the law on declaring cross-border cash transfers, a step linked to monitoring money movements. Separately, expatriates from northern towns reportedly transferred large sums to Lebanon to invest in Tripoli and Akkar.
Retired teachers wait as aid programme expands
The teachers' union urged Finance Minister Yassine Jaber to expedite the release of 200 billion pounds allocated to improve retired teachers' pensions under a law published in the Official Gazette more than three months ago but not yet implemented, warning that their pensions do not exceed $200 a month. The National Federation of Labour Unions raised its demand to a $1,500 minimum wage. Parliament, meanwhile, approved a $200 million World Bank loan for the AMAN programme, whose coverage rises from about 106,000 households to 150,000, with 'AMAN 2.0' starting in 2027.
Electricity: funding, collection and disconnections
Parliament approved an additional $100 million credit to pay part of Electricité du Liban's dues and raised the allocation for household solar project loans to $20 million under the 'Kafalat' scheme. Reports said EDL is continuing to cut power to public institutions and departments that have not paid arrears, except government hospitals, with targeted arrears at about $248 million and first payments expected in its accounts in mid-December. Parliament also approved a credit of 2,266,888,755,000 pounds for Ogero, while a variable electricity tariff is being put to the Cabinet.
State spending versus reform
MP Hassan Fadlallah called on the government to present a clear spending plan within the budget, with exceptions governed by law, warning of a new financial crisis over the $16 million cost of a 2.7-km road. Free Patriotic Movement leader Gebran Bassil reopened the file of the unfinished Bisri dam and said Lebanese will keep paying $5 billion a year to generators as long as the electricity sector is run as it is, while MP Sami Gemayel proposed privatising the sector. On oversight, the economy minister disclosed violations in the meat sector, with 74 institutions under audit.
What to watch
- The outcome of the IMF mission's talks with Lebanese officials before its departure, and the bank reform file.
- The expected Cabinet session to discuss the electricity plan and the variable tariff.
- The first payments appearing in Electricité du Liban's accounts in mid-December after procedures at the Finance Ministry are completed.
- Implementation of the 200 billion pound payout to improve retired teachers' pensions under the published law.