Sources talk about a trend to reduce fuel prices in the local market

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.

The sources expected that a new tariff will be issued for the prices of petroleum products 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.

The sources considered that the decision of the Minister of Energy to form a permanent committee to determine the prices of petroleum materials and mineral resources comes in the context of institutional work to develop a clear and accurate mechanism for fuel prices permanently, expecting that the decision to reduce fuel prices will be the first decision of the committee in the coming days.

The Ministry of Energy forms a permanent committee to determine the prices of petroleum products

 In a related context, Minister of Energy Mohammed al-Bashir issued a decision on Tuesday (June 23rd)  to form a permanent committee to determine the prices of petroleum products and mineral resources within the framework of "enhancing governance and transparency in pricing mechanisms, and keeping pace with local and global economic changes related to the energy and mineral resources sector," according to the text of the decision.

 The committee included representatives of a number of government agencies and concerned institutions, headed by the Deputy Minister of Energy for Oil Affairs, Ghayath Diab, and the membership of representatives from the Ministries of Finance, Economy and Industry, and the Central Bank of Syria, in addition to the competent authorities in the oil and mineral resources sector.

According to the decision, Minister Al-Bashir tasked the committee to study the prices of petroleum products and mineral resources in light of the data and factors affecting their prices locally and internationally, including international prices, costs, the exchange rate of the Syrian pound, support mechanisms and other relevant indicators, while setting the necessary foundations and criteria to determine prices and update them periodically.

Raising the prices of oil derivatives by up to 30%

 On  Thursday, May 7, 2026, the Ministry of Energy raised the prices of hydrocarbons in Syria by 17% to 30% depending on the type of derivative, within the framework of the pricing policy related to the fluctuations of the exchange rate and international prices.  

The official bulletin issued at the time  showed that the price of the first liter of diesel was set at $0.88, 90-octane gasoline at $1.10, and 95-octane gasoline at $1.15. The price of a domestic gas cylinder reached $12.50, while the price of an industrial gas cylinder reached $20.

The bulletin included a parallel table of prices in Syrian pounds after calculating the dollar on the basis of 13,300 pounds, where the price of a liter of diesel oil was 117.04 pounds, gasoline 90 was 146.3 pounds, and gasoline 95 was priced at 152.95 pounds, while the price of domestic gas reached 1,662.5 pounds, and industrial gas was 2,660 pounds.

The aforementioned decision came to cancel the effects of the previous pricing announced by the Ministry of Energy on November 11, 2025, under Decree No. 731, which it described at the time as "part of a comprehensive reform plan for the energy sector aimed at easing the burden of living while increasing local production."