Syrian government doubles fuel prices amid shortage

QANISHLI, Syria (North Press) – The Syrian government issued a decision in which it raised the price of gasoline on Tuesday.

The issued decision was “based on the Economic Committee recommendation from the Ministry of Petrol and Mineral Resources’ letter,” the Ministry of Internal Trade and Consumer Protection said on its official Facebook account.

The decision came due to “the high costs of securing fuel and the increasing prices of transport amid the American siege imposed on Syria and its people,” the Ministry stated.

The decision called on station owners to “announce the prices and quality of gasoline in a clear and legible manner within the stations, under penalty in case of violation.”

The government issued a decision on Monday in which it raised the price of fuel oil from SYP 296 to SYP 650 and the price of 95 octane gasoline from SYP 850 to SYP 1050.

Raising the price of fuel oil “has negative impacts. It will raise the costs of production and freight in the markets,” Fares Shehabi, head of the Federation of Industry Room in Syria, said.

This would also lead to the stoppage of a number of factories that were already suffering from recession and weakness in exports, especially since many industrial areas had major interruptions in the electrical supply, he pointed out.

This comes at a time when the country suffers from a severe shortage of gasoline.

The Ministry of Petrol and Mineral Resources of the Syrian government promised on Tuesday to pump gasoline during the next two days, after the Baniyas refinery returned to work at full capacity and provided additional quantities of gasoline.