Massive increase in fuel prices in Idlib with the collapse of the Syrian pound

Idlib – North-Press agency

On Tuesday, fuel prices in the markets of Idlib governorate and its countryside, in the northwest of Syria, have increased significantly in conjunction with the collapse of the Syrian pound against the U.S. dollar.

A gas station owner from Sarmada who preferred to remain anonymous told North-Press: "On Tuesday, the price of one imported liter of gasoline was 950 SYP, and the price per one imported liter of diesel was 1070 SYP,” noting that one gas canister was 15,300 SYP.

Watad Petroleum Company, which monopolizes the fuel market in Idlib and it is controlled by Hayat Tahrir al-Sham (HTS), has justified the reason for the high fuel prices as the decreasing value of the Syrian pound against the US dollar.

The rise in fuel prices exacerbates the suffering of Idlib’s people in light of the devaluation of the Syrian pound and general increase in the prices of basic commodities.

The rise in fuel prices coincides with the depreciation of the Syrian pound exchange rate against foreign currencies, as today the dollar reached 1,880 SYP for sale and 1,850 SYP for purchase.

Syrian specialists warn of the possibility of an economic catastrophe threatening many Syrian regions, including the northwest, in the event of the collapse of the Syrian pound with the start of the implementation of the Caesar Act next month.