The collapse in global crude oil prices since June 2014 had a significant impact on economies, governments and business. Lebanon was no exception to this rule. One of the local markets to bear the brunt of these changes was the fuel oil industry, which has witnessed several changes in its market dynamics due to not only the economic factors dictating their businesses, but local social factors as well.
The fuel oil industry in Lebanon is a saturated market, with 13 licensed oil importers and distributors. Lebanon’s distribution network consists of around 2,200 registered service stations, with a further 1,000 rumored to be operating without the required permits.
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