A few spot-checks on globalpetrolprices.com show that the price of 1 kWh of electricity typically is around 10% that of 1 litre of fuel in other countries. In Lebanon, it amounts to 0.13% the price of 1 litre of fuel. Which explains the $0.26k/BTC, but not how Lebanon can have such seemingly dirt cheap electricity.

Still need to investigate further, but I'm thinking there could be a problem with the exchange rate calculations on globalpetrolprices.com.