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Energy Ministry Explains Oil Price Changes and Syria's Imports
The article pertains to the Syrian Ministry of Energy's clarification regarding the reasons for adjusting fuel prices. This adjustment results from exceptional circumstances and temporary fluctuations in global energy markets, which have led to a significant increase in the cost of securing fuel products. The ministry explained that prices depend on supply costs, which are influenced by market volatility. It highlighted that Syria relies heavily on imports, with approximately 74% of the demand for diesel, 81% for gasoline, and 96% for household gas covered through imports. Additionally, domestic production faces challenges, covering only about one-third of the needs, with a temporary halt at the Baniyas refinery due to necessary maintenance work. The ministry affirms that price adjustments are subject to continuous review based on market fluctuations, with efforts underway to increase domestic production and reduce dependence on imports to ensure the sustainable availability of fuel products.
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