Syria temporarily hikes fuel costs

Syria has temporarily raised the prices of petroleum derivatives due to increasing global costs and the impact of maintenance at the Baniyas refinery. Currently, diesel prices are approaching $1,400 per ton, and gasoline prices near $1,350 per ton. The country continues to rely on imports to meet the domestic demand, which is around 300,000 barrels per day, compared to an estimated local production of 100,000 barrels per day. This measure is part of the government's efforts to enhance refining capacity and reduce dependence on imports. The ministry has also emphasized that the price increase is temporary and will be reviewed according to market conditions, aiming to improve the supply of gasoline and diesel in the Syrian market.

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