The Minister of Energy, Mohamed Al-Bashir, approved on Saturday, June 27, the recommendations of the Standing Committee for Determining the Prices of Petroleum Materials and Mineral Resources, issued by its extraordinary meeting, after studying the technical and economic data related to the reality of the petroleum products market.

The attached bulletin includes the new prices approved in the new Syrian pound, which came into effect as of the date of its issuance.

The approved new price bulletin included the following:

Gasoline (95): A decrease of 20.39%, to become the price of a liter of 130 Syrian pounds.

Gasoline (90): A decrease of 19.97%, to the price of a liter to 125 Syrian pounds.

Diesel: Reduced by 14.37%, to become 107 Syrian pounds per liter.

Domestic gas cylinder: its price has been reduced by 15.49%, to become 1,500 new Syrian pounds.

Industrial gas cylinder: its price decreased by 15.49%, to become 2,400 new Syrian pounds.

The Ministry said in its statement that the decision comes within the framework of the periodic review of prices, based on the recommendations of the committee, and in line with economic changes, enhances market stability, and ensures the sustainability of the availability of petroleum products in order to serve the interest of citizens and the national economy.

The Committee submits its recommendations

Earlier today, 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.

Read also. "Syrian News" reveals a trend to reduce fuel prices

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.