Syrian energy minister explains fuel price hikes

The Syrian government focused on the reasons behind the rise in fuel derivatives prices, justifying this by the significant gap between domestic production and the additional need for oil and gas. Domestic production amounts to around 112,000 barrels per day, while Syria requires approximately 312,000 barrels daily to meet demand. The minister also explained that the global increase in gas prices has led to greater burdens on the state's budget, as Syria imports 6.3 million cubic meters of gas daily at a cost of about $140 million per month. As a result, the prices of derivatives increased by between 25% and 40%, leading to multiple protests. The government is focusing on improving infrastructure and restructuring the energy sector to reduce the gap between supply and demand and to enhance quality, while reaffirming that there are no plans to privatize the sector.

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