For second time in five days fuel prices raise in Syria’s Idlib

IDLIB, Syria (North Press) – For the second time in five days, the Watad Petroleum Company, affiliated with Hayat Tahrir al-Sham (HTS, formerly Jabhat al-Nusra), raised the prices of oil derivatives in northwestern Syria, on Thursday.  

The price of a liter of imported gasoline rose to 7.30 Turkish liras (more than 3,000 SYP/about $0.90) instead of 7.2 Turkish liras, while a liter of imported diesel rose from 6.59 to 6.73 Turkish liras (approximately 2,800 SYP/about $0.80).

The company kept the prices of the imported second type diesel and the refined diesel at its previous prices, and it did not raise the price of a gas cylinder to keep it at its old price, which is 95 TL (approximately 40,000 SYP/about $11.5).

The company justified its price hike by decreasing the exchange rate of the Turkish lira against the US dollar.

The US dollar exchange rate is currently about 8.45 TL, while the Turkish lira equals 414 SYP, according to the Lira Today website, which specializes in currency rates.

Watad Company was founded in Idlib in early 2018 by a group of Syrian businessmen living in Turkey. Later, it became a key player in Idlib, as it controls the local fuel and gas market, from oil refining to setting prices.

Reporting by Samir Awad