Syrian energy minister cites exceptional circumstances behind fuel price hike

Syrian Minister of Energy Mohammed Al-Bashir said that complex and exceptional circumstances have compelled the government to adjust fuel prices, noting that the ministry has discussed several solutions regarding fuel pricing with President Al-Shara.

Speaking at a press conference on recent developments in the oil sector and current measures, Al-Bashir explained that energy markets are facing extraordinary challenges due to declining oil and gas production and disruptions to global energy corridors.

He added that a comprehensive overhaul of the Banias refinery is essential, involving the rehabilitation and replacement of several main units and key equipment.