Syria Reduces Fuel Subsidies as Economic Crisis Deepens

  • Date: 09-May-2020
  • Source: Bloomberg
  • Sector:Economy
  • Country:Lebanon
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Syria Reduces Fuel Subsidies as Economic Crisis Deepens

Subsidized 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 liter (36 cents per 0.25 gallons.). Non-subsidized fuel goes for nearly double the price at 450 Syrian pounds a liter (64 cents per 0.25 gallons.). The smart card distribution and limit on subsidized fuel were introduced last year amid an increasing fuel shortage..