Decision to reduce fuel prices on the table of the Minister of Energy

The Committee for the Determination of the Prices of Oil Derivatives submitted official recommendations to the Minister of Energy, including amendments to the prices of some oil derivatives, including a reduction in prices, following an extraordinary meeting held by the Committee for the first time since the start of the current changes in the energy markets.

 The Ministry of Energy explained in a statement published on its official IDs on Saturday evening, June 27, that the meeting came with the aim of a comprehensive review of the reality of the prices of petroleum derivatives, and to study all technical and economic factors affecting pricing mechanisms. The discussions included developments in global oil prices, import costs, supply chain fluctuations, transportation and storage costs, and levels of domestic demand.

According to the statement, the committee completed its work after completing the technical and economic study, and concluded with a package of recommendations commensurate with the recent developments in the market, stressing that it submitted these recommendations to the Minister of Energy to take the appropriate decision in accordance with the approved procedures and procedures.

The Ministry stressed that the final decision will be issued after reviewing the recommendations, while ensuring a balance between consumer protection and ensuring the sustainability of the energy sector, and full compliance with the technical and economic standards governing the pricing process.

  On Tuesday, June 23,  "Syrian News"  revealed that the Ministry of Energy is currently reviewing the prices of petroleum products (gasoline, gas, and diesel) in the local markets following the decline in global oil prices as a result of the de-escalation in the Gulf region and the opening of the Strait of Hormuz for the passage of oil tankers.

Syrian News quoted private sources as saying that a new tariff for the prices of petroleum products will be issued in the next few days, taking into account the difficult living conditions of Syrians as a result of the continued rise in prices due to the dollar exchange rate remaining at high levels against the Syrian pound.