The Standing Committee for the Determination of the Prices of Petroleum Materials and Mineral Resources confirmed that the adoption of the new price bulletin comes within a modern institutional approach, which is mainly based on the periodic and continuous review of prices according to renewed economic and technical indicators.

This approach aims to ensure that the energy market keeps pace with the ongoing changes, as well as achieving the required balance between the sustainability of the supply of petroleum products in the markets, and taking into account the interest of both citizens and the national economy.

Flexible mechanism

In an official statement published by the Ministry of Energy on its Telegram channel on Sunday, the committee clarified that the new pricing mechanism is never based on fixing prices for long periods of time.

She indicated that the mechanism relies primarily on periodically reviewing the bulletins whenever economic and technical indicators require it, whether it requires adjustment by rise or fall, in order to ensure that the issued price bulletins reflect the actual economic reality and the current conditions in a timely manner.

The Standing Committee pointed out that oil prices in the world markets are one of the influential and dynamic elements in the pricing process, but at the same time they are not the only factor adopted.

She said: "Other factors are taken into account with great precision, including: exchange rates, the cost of import or local production, transportation, shipping, operation and maintenance, in addition to the level of technical readiness, and local economic variables, leading to the formulation of recommendations based on an integrated scientific study of the various factors influencing the various factors."

Participatory action to promote transparency

The committee pointed out that the preparation of recommendations is carried out within a participatory institutional work system, which includes competent representatives of the competent economic, financial and technical authorities in the country, where indicators and data are studied comprehensively and extensively before submitting the final recommendations to the Minister of Energy to take the appropriate and appropriate decision.

The adoption of this proactive mechanism aims to enhance the principle of transparency in the pricing process, and enable the competent authorities to respond immediately to economic changes in a timely manner, which directly contributes to the stability of the petroleum market and its sustainable availability.

The committee pointed out that the price review will remain a periodic process linked to the results of the studies to establish objective foundations that take into account the interest of both the state and the citizen.

The Ministry of Energy reduces the prices of oil derivatives by 20% and 15%

On Saturday, June 27, the Minister of Energy, Mohammed Al-Bashir, approved 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.