Syria Slashes Fuel Oil Price to Support Struggling Manufacturers

The Syrian government has taken steps to ease financial pressure on manufacturers by cutting the price of industrial fuel oil. According to Energy Minister Mohammed Al-Bashir, the new price is $400 per tonne, down from $475. This move aims to support the industrial sector and boost competitiveness.

Al-Bashir stated that the reduction in fuel oil prices will help lower production costs, sustain industrial output, and improve market stability. He also emphasized that supporting industry is a direct investment in the national economy.

The policy comes as Syria's economy struggles to recover from over a decade of war, which has severely damaged key sectors such as agriculture, oil, and gas. The conflict has led to significant damage to production capacity, displacement of millions, and dependence on imports.