Cheaper petrol, pricier gas, taxes in dollars and a warning of contraction
Fuel prices moved in opposite directions: the 95-octane petrol canister fell to 2,611,000 liras from 2,651,000, and 98-octane to 2,629,000 liras from 2,669,000, while diesel rose to 2,608,000 liras from 2,576,000 and the gas cylinder to 1,545,000 liras from 1,494,000. Meanwhile Finance Minister Yassine Jaber announced that taxes and fees can now be paid in cash in dollars, in liras or by bank card, with possible extra fees on international cards. The head of the Lebanese Companies Association, Bassem Al-Bawab, warned that a new war would be a catastrophe for an economy exhausted by seven years of crises, estimating the economy's size falling from about 40 billion dollars to 35 billion, a contraction of about 8%. A decision described by the press as the hardest in the electricity sector is being tested today, with no details on its measures.
Prices and living costs
The 95-octane petrol canister fell by about 40,000 liras to 2,611,000 liras, and 98-octane to 2,629,000 liras from 2,669,000. Diesel, however, rose by 32,000 liras to 2,608,000 liras, and the 10 kg gas cylinder by 51,000 liras to 1,545,000 liras, raising heating and cooking costs as winter approaches. Gold edged up: the ounce to 3,912 dollars from 3,907, and the 21-carat gram to 110.05 dollars from 109.92. According to one report, poverty is rising in Zahle and needs exceed available means.
The lira, banks and deposits
The official dollar rate held at 89,500 liras, while the euro slipped slightly to 99,880 liras from 99,938. Finance Minister Yassine Jaber confirmed that taxes and fees can be paid in cash in dollars, liras or by bank card, under parliament's authorization in the 2026 budget, with possible additional fees on international cards and an emphasis that not all transactions will be converted to dollars. A report covered the shift of Lebanon's reserves from dollars to gold, with figures reaching about 50 billion dollars.
Services
A decision described by the press as the hardest in the electricity sector began being tested today under the headline "the state cuts electricity from itself", with no available details on the measures involved. On transport, Middle East Airlines announced new arrangements for travelers from Riyadh to Beirut at the request of Saudi authorities, including arriving four hours before departure and designated paths for procedures. The traffic control unit recorded 8 road accidents in 24 hours that left one dead and 11 injured.
Public finances and the state
Reports said 107 companies are facing the judiciary in tax evasion files opened by Finance Minister Yassine Jaber, while other reports addressed the draining of the treasury and the "shadow economy" falling under financial prosecution. News also cited an "unprecedented customs achievement", with Jaber stressing the protection of Lebanon's border crossings. In another file, a report explained that tales of buried gold are part of popular memory, that primary resources belong to the state, and that digging is subject to antiquities and mining laws.
What to expect
Bassem Al-Bawab warned that a new war would be a catastrophe for an economy exhausted by seven years of crises, with estimates of the economy shrinking from about 40 billion dollars to 35 billion, a contraction of about 8%. He explained that the holiday season can account for 20 to 30% of some companies' revenues, and that losing it could push more firms to close at the start of next year. Electricity and the new tax payment arrangements remain two factors that consumers and businesses will be watching in the coming weeks.
What to watch
- Details of the electricity decision being tested today and its impact on household supply hours.
- The path of diesel and gas prices as winter begins.
- Implementation of paying taxes in cash dollars or by card, and possible extra fees on international cards.
- The 107 tax evasion files before the judiciary and their effect on treasury revenues.
- The holiday season and companies' revenues, estimated at 20 to 30% for some of them.