The Syrian markets are witnessing a new wave of inflation, causing disruptions in buying and selling activities, and sometimes even avoidance, due to potential overnight decisions.
After the usual nighttime decision to raise prices of diesel designated for vehicles, Syrians are apprehensive about its consequences. However, merchants did not disappoint their expectations. Syrians' predictions were confirmed after the "carefully considered" decision affected both food and non-food item prices in the market, leading to an increase ranging from 15 to 25 percent for most goods.
Several vendors have highlighted the transportation costs from the central markets and factories in the provinces, borne by merchants and producers and eventually transferred to consumers, stating that it's "not reasonable for them to bear those exorbitant fees alone."
The Ministry of Internal Trade and Consumer Protection revised fuel prices, setting the selling price of octane 90 at 9,500 Syrian pounds, and octane 95 at 12,430 Syrian pounds.
Additionally, the Ministry adjusted prices of oil derivatives distributed to private sectors, setting the selling price of "free" diesel at 10,895 Syrian pounds, and the price of fuel oil at 6,596,645 Syrian pounds.
As usual, Syria is enduring its worst-ever fuel crisis, causing a complete paralysis across all sectors. Transportation and commuting, especially in Damascus and its suburbs, have been severely impacted, with delays in subsidized gasoline reaching nearly 50 days. Moreover, power cuts have escalated to 23 hours per day in most areas.
Despite repeated promises to increase allocations and supply derivatives to fuel stations, the fuel crisis continues to worsen, affecting various aspects of Syrians' lives.