Raw honey has proven anti-bacterial properties, however the time I tried it on my peeling lips it was obviously very sticky and dried in colorful pockets in the crusts. I found shea butter and coconut oil, which are also anti-bacterial, absorbed better and were much less noticeable, both in feeling and appearance. And of course you don't want to put honey on your lips if you might be allergic to it.
Here's a review of literature from an obviously pro-honey website:
I eat raw honey all the time and put it in my tea and oatmeal daily (has more anti-bacterial effect when it is unheated, so add it after those cool). It's expensive but is so worth not eating any processed sugars or artificial sweeteners anymore.