Fuel prices fall and the lira holds steady as wage and power files heat up
Fuel prices fell in the latest update: the 95-octane gasoline canister dropped to 2,802,000 lira from 2,825,000, and diesel to 2,614,000 lira from 2,692,000, while the 10 kg gas cylinder rose to 1,383,000 lira from 1,333,000. Meanwhile the lira held steady on the parallel market at around 89,600-89,700 lira according to Bank Audi's weekly report, as the central bank's gold and foreign currency reserves fell by about $2,256 million in the first nine months of 2026. On the livelihood front, the transport allowance file is pushing public administration employees toward escalation, the electricity crisis and calls for reform continue, and warnings point to a wave of closures hitting the restaurant sector.
Fuel prices retreat while gas rises
According to the indicators, the 95-octane gasoline canister fell to 2,802,000 lira from 2,825,000, 98-octane to 2,820,000 lira from 2,843,000, and diesel to 2,614,000 lira from 2,692,000. In contrast, the 10 kg gas cylinder rose to 1,383,000 lira from 1,333,000. This comes amid concerns over winter heating costs, with a report noting the diesel barrel neared $300 and a ton of firewood sold for about $200 depending on type, while northern fishermen staged a sit-in over the absence of support and high diesel costs, and an MTV Lebanon report spoke of a wave of closures threatening the restaurant sector.
Lira steady, reserves declining
Bank Audi's weekly report said the lira held steady against the dollar on the parallel market at around 89,600-89,700 lira, while the official rate stood at 89,500 lira, the euro was nearly flat at 100,287 lira versus 100,293, and the gold ounce at $4,196 versus $4,195. The report noted that the central bank's gold and foreign currency reserves fell by about $2,256 million in the first nine months of 2026, that the Beirut bourse dropped 2.6% after four weeks of gains, and that Eurobond prices declined. Sheikh Ali al-Khatib warned that the banking sector needs restructuring and depositors' rights, as market participants await the resumption of negotiations.
Transport allowance ignites the public sector wage file
According to the head of the Public Administration Employees Association, Raed Hamadeh, employees are awaiting a state decision on the transport allowance, with a demand to adopt ten litres per working day in line with actual fuel prices. Hamadeh said the association met the finance minister, who told them he had received the necessary directives to start addressing the file and that a real study is under way ahead of a decision very soon, without finalising the number of litres. This comes as employees threaten escalation if the file is not resolved.
Electricity, schools and health on the crisis front
Lebanese Forces leader Samir Geagea said the electricity crisis can no longer tolerate delay, noting that power plants cover about a third of demand and that higher fuel oil prices have cut supply hours, and calling for a moving tariff. MP George Adwan proposed a roadmap including paying the debts of public administrations and institutions to Electricité du Liban, settling state obligations resulting from exemptions, and securing financing to adopt the moving tariff scale. In the south, hundreds of students returned to in-person classes in Nabatieh and its surroundings despite tensions, with about 25 educational institutions fully or partially damaged, while the health minister announced the laying of the foundation stone for the Hartaba government hospital on 31 October. In another health file, the Lebanese Observatory for Prisoners' Rights reported critical cases among hunger strikers rose to 72 and that four inmates were transferred from Roumieh prison to Al-Azouniyeh hospital after testing positive for tuberculosis.
Public finance files: ports, corridors and reforms
According to an An-Nahar article, Lebanon signed the linking of the Beirut and Tripoli ports to the India-Middle East-Europe Economic Corridor (IMEC), and the article estimated the financial burden of the "support war" at about $27 billion. On regional cooperation, Syria's chargé d'affaires in Lebanon, Iyad al-Haza', discussed expanding economic cooperation with the head and members of the Zahle and Bekaa Chamber of Commerce, Industry and Agriculture, stressing that Syria's doors are open with 40 sectors available for investment. On financing, Washington, through State Department spokesman Tommy Pigott, denied reports that Hezbollah received $200 million from Iran, stressing that sanctions continue and calling on Lebanon to carry out financial reforms.
What to watch
- The awaited state decision on the transport allowance for public administration employees
- Any government decision on the electricity plan, the moving tariff and its financing
- Lira movement on the parallel market and the level of the central bank's reserves
- Fuel price movements in the next update and the health condition of striking prisoners