Gasoline prices in Syria recorded an increase of more than 20% at gas stations today, Tuesday, May 23 (2023), which is the second increase during the current year.
Late yesterday evening, Monday, May 22, the Syrian government announced a move in the prices of gasoline and domestic gas by rates ranging between 20 and 30 percent.
The increase in gasoline prices in Syria comes at a time when the government is trying to reduce the bill for oil derivatives, which places double burdens on the country’s general budget at a time when the Syrian economy is witnessing many burdens.
Fuel prices in Syria
Yesterday, Monday, the Ministry of Internal Trade and Consumer Protection issued two decisions – which were reviewed by the specialized energy platform – which witnessed the adjustment of “95 octane” gasoline prices in Syria, as well as the prices of domestic gas – liquefied oil gas – and industrial gas.
Under the new decision, which began to be implemented in the early hours of Tuesday morning, fuel prices in Syria are as follows:
- The price of 95-octane gasoline increased to 7,600 pounds.
- Increasing the price of the subsidized domestic gas cylinder to 15,000 pounds.
- Increasing the price of the domestic gas cylinder at the free price by 50,000 pounds.
- Increasing the price of an industrial gas cylinder to 75,000 pounds.
It is noteworthy that the exchange rate of the US dollar in the Syrian market has now exceeded 8,500 Syrian pounds, compared to 50 pounds in 2011.
The second increase is in 2023
The increase in gasoline prices in Syria is the second during the current year (2023). On January 3, the Syrian government raised the price of a liter of 95-octane gasoline to 5,750 pounds.
Many cities in Syria suffer from a great shortage of oil derivatives, as the price of a liter of regular gasoline on the black market reaches about 10,000 Syrian pounds, while the price of a liter of diesel (diesel) is about 10,000 Syrian pounds.
And according to the decisions of the Ministry of Commerce, violators of their provisions are subject to the penalties stipulated in Legislative Decree No. 8 of 2021.
In December, the Ministry of Internal Trade and Consumer Protection raised fuel prices in Syria for the fourth time in 2022, as the price of subsidized-octane 90-subsidized gasoline in Syria rose to 3 thousand Syrian pounds instead of 2500, while the price of a liter of free gasoline rose to 4900. Lira instead of 4 thousand.
A liter of “subsidized” diesel distributed by the fuel company in Syria to the public and private sectors rose to 700 Syrian pounds instead of 500 Syrian pounds, while the price of a liter of diesel allocated for economic activities was about 3 thousand Syrian pounds instead of 2500 Syrian pounds.
The December increase came after a huge increase in fuel prices in Syria during August (2023), when it raised the price of subsidized gasoline by about 130%, from 1,100 pounds per liter to 2,500 pounds, at a time when the country is experiencing successive crises with an increase in fuel prices. Prices, fuel shortages, and long hours of power outages.
The government justifies raising gasoline prices in Syria as an attempt to reduce the huge losses in the oil budget and to ensure that the substance will not be interrupted or lack of availability.
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