Syria Raises Gasoline Prices By 20% - Khaleej Times

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DAMASCUS, Syria - Syria raised gasoline prices on Thursday by 20 percent, a state-run newspaper said, as the Arab state faced a decrease in oil production while oil rose to a record above US$96 a barrel on world markets.

The price of gasoline was raised to 36 Syrian pounds (74 cents) a liter from 30 pounds (60 cents), Syria’s official newspaper Al Thawra reported. The new price went into effect Thursday.

This price is still low compared to world prices, as the Syrian government subsidizes fuel and other vital commodities.

The Syrian government expects 2008 subsidies will cost it some 350 billion Syrian pounds (US$7 billion), or about 19 percent of the gross domestic product.

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