Rising gasoline prices in Syria raise fears of new inflationary cycle
The rise in fuel prices in Syria was announced on the Commerce Ministry's Facebook page.
AFP - AAREF WATAD
Text by: RFI Follow
2 min
The increase in fuel prices was announced on the Facebook page of the Syrian Ministry of Commerce, against the backdrop of severe shortages that have caused endless queues at gas stations in the country.
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Once sold at 475 pounds, a liter of subsidized 90 octane unleaded gasoline is now worth 750 Syrian pounds (1.2 euros), an increase of about 58%.
As for the price of non-subsidized gasoline, it jumped 54%.
The price of the domestic gas cylinder has also increased.
This is not the first time that the Syrian authorities have increased the price of gasoline, as the national currency soars, now reaching 4,200 pounds to the dollar on the black market, against an official rate of 1,256 pounds to one. dollar.
The country at war for a decade
is facing a serious economic crisis due, according to the power in place, to Western sanctions, the fallout from the pandemic and the collapse of neighboring Lebanon, its financial lung.
Rising oil prices in Syria point to a new cycle of inflation in the country.
According to the World Food Program (WFP), the majority of Syrians live below the poverty line.
Prices have doubled in the past year and 12.4 million people are food insecure.
(With AFP)
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