Fuel prices fall, cooking gas rises, and electricity goes to legislation
Prices of petrol and diesel fell in the latest price update while the cooking gas cylinder rose, meaning transport costs eased slightly but cooking and heating remain a heavy burden for households. The electricity crisis dominates: power was cut to public institutions and departments over arrears of about $430 million, against an additional $100 million credit and a legislative session called by the parliament leadership. On living standards, the economy minister said about 30 percent of the population is below the poverty line, while debate continues over raising the minimum wage to $1,400 and a teachers' strike goes on. In the background: a Qatari electricity offer nearing a decision, agricultural losses in the south exceeding $530 million, and 61 percent of the displaced response plan still unfunded.
Fuel down, but gas and sugar weigh on the bill
A canister of 95-octane petrol stood at 2,492,000 lira, down from 2,569,000 lira; 98-octane at 2,510,000 lira, down from 2,587,000 lira; and diesel at 2,579,000 lira, down from 2,604,000 lira. By contrast, the 10 kg gas cylinder rose to 1,610,000 lira from 1,545,000 lira, raising cooking and heating costs for households. Gold was quoted at $116.03 per gram of 21 carats, up from $115.73, and $4,125 an ounce, up from $4,114, meaning gold savings keep gaining value. Reports warn that a fourth consecutive monthly rise in global sugar prices could push up prices of Lebanese products that rely on it, while the economy minister said about 30 percent of the population lives below the poverty line.
Lira relatively stable, depositors reject the $100,000 plan
The official dollar rate stood at 89,500 lira, while the euro reached 100,286 lira, up from 99,786 lira in the previous quote. Debate over handling deposits continues, with a report saying depositors reject the $100,000 plan and are asking about state assets. These files remain the most sensitive for households counting on their frozen savings.
The $1,400 battle and the teachers' strike continue
Debate over correcting wages and raising the minimum to $1,400 is back; the head of the General Labour Confederation, Bishara al-Asmar, said the demand has not been dropped but the confederation is looking for a mechanism that accounts for the capacity of small and medium firms, warning that unstudied increases could bankrupt businesses and that inflation could eat up the raises. In education, MP Edgar Traboulsi called on teachers to suspend their strike and return to classrooms, and urged the education ministry to remedy the damage of Decision 1513, noting that 76 percent of public secondary schools do not meet section-splitting standards. According to the contract teachers' movement, more than 50,000 students in public secondary education have been out of class for six days.
Electricity dominates: arrears, $100 million and a Qatari offer
Electricité du Liban cut power to several public institutions and departments over unpaid bills, with accumulated arrears at about $430 million, while the finance and budget committee approved an additional $100 million credit for electricity. Parliament Speaker Nabih Berri called a legislative session on Thursday with ten draft laws and proposals on its agenda. Meanwhile, negotiations over the Qatari electricity offer are reportedly advancing, with political sources stressing it is an agreement between two states that cannot be signed overnight. On transport and trade, talks were held on organising the entry of Lebanese goods into Iraq on Lebanese trucks via the Al-Qaim and Trebil crossings to cut shipping costs, with no agreement announced.
Government returns, but losses and missing funding persist
Contacts intensified to bring Lebanese Forces ministers back to cabinet sessions after their boycott, with a Thursday session expected to be called by Prime Minister Nawaf Salam. On the numbers front, a report showed Lebanon's competitive exports held near $3 billion between 2018 and 2022, but the number of products in which it has a comparative advantage fell from 216 to 203. A post said $1 billion is missing from funding for the displaced response plan and that 61 percent of the plan remains unfunded, while war losses to the agricultural sector in the south exceeded $530 million and hit about 56,000 hectares.
What to watch
- Thursday's parliamentary legislative session and the $100 million electricity credit.
- How the Qatari offer on electricity and gas takes shape, and what it means for supply hours.
- The outcome of talks on the $1,400 minimum wage and the teachers' strike file.
- Whether the global sugar rally feeds through to local food prices.