Syria fuel prices increase again

The Syrian Ministry of Energy announced that the adjustment of fuel prices is a result of exceptional circumstances and temporary fluctuations in the global energy markets, which led to a significant increase in the costs associated with securing these products. The Director of the Ministry's Media Department explained that prices fluctuate according to market movements, supply, transportation, and insurance costs. Syria relies heavily on imports to meet its fuel needs, as domestic production covers only about one-third of the demand, with refining capacities reduced and the Baniyas refinery temporarily shut down. The ministry also indicated that the rise in fuel prices reflects higher shipping and insurance costs, and efforts are focused on increasing local production and rehabilitating refineries to reduce reliance on imports.

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