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شبكة شام الإخبارية
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Energy Ministry addresses fuel price hike due to high import rates
The Syrian Ministry of Energy has increased fuel prices due to exceptional circumstances and temporary fluctuations in the global energy markets. It is important to note that Syria imports 74% of its diesel and 81% of its gasoline. An official from the ministry confirmed that the cost of supply depends on the international market and is directly linked to import burdens. Local production covers only about a third of the country's needs, with the market requiring between 300,000 and 325,000 barrels per day, while the country produces approximately 100,000 barrels. He added that the cost of derivatives exceeds the price of Brent crude oil due to product shortages, rising refining and supply costs, as Syria seeks to increase local production and reduce dependence on imports by restarting the Baniyas refinery and improving the production capacity of local companies.
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