Syria slashes fuel subsidies as economic conditions worsen | AW staff

Syria slashes fuel subsidies as economic conditions worsen | AW staff

Damascus is seeking to exploit the COVID-19 emergency with renewed calls for the end of international sanctions, which it says will alleviate both the health and economic crises.. A reduction in automobile fuel subsidies by Syria's Oil and Mineral Resources Ministry May 9 was the latest sign of a deepening economic crisis.. Subsidised fuel is distributed through a smart card system, whereby smaller cars receive up to 100 liters (26 gallons) of fuel a month at 250 Syrian pounds a litre (36 cents per 0.25 gallons.). Non-subsidised fuel goes for nearly double the price at 450 Syrian pounds a litre (64 centres per 0.25 gallons.). The economy of the war-ravaged country, also suffering from years of sanctions, saw its local currency plummet in value late last year..