Syria raises subsidized gasoline price by 130 percent
The Syrian Ministry of Internal Trade has raised the price of subsidized gasoline by about 130 percent at a time when the country is experiencing successive living crises represented by high prices, lack of fuel and long hours of power cuts.
The official Syrian News Agency (SANA) quoted a ministry statement late on Saturday evening, stating that the price of subsidized gasoline would be raised from 1,100 pounds per liter to 2,500 pounds.
This is the third time that Damascus has raised fuel prices during this year, the last of which was the increase in the price of a liter of subsidized gasoline last May from 750 pounds to 1,100 pounds.
The ministry indicated that this decision comes with the aim of reducing the huge losses in the oil budget and to ensure that the material is not interrupted or lacking in availability.
The ministry raised the price of unsubsidized gasoline from 3,500 to 4,000 liras per liter, and the price of high-octane gasoline from 4,000 to 4,500 liras.
The rise in fuel prices is accompanied by a rise in the prices of food products and raw materials that depend on oil derivatives to run generators and transport goods.
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