BEIRUT – Syria’s oil ministry has announced that it is reducing its automobile fuel subsidies, removing owners of more than one car and users of vehicles with powerful engines from its ration system.
The ministry said Saturday that the decision was effective Sunday.
War-ravaged and sanction-battered Syria is grappling with a new phase of its economic crisis. Its local currency began plummeting in value late last year, and now coronavirus restrictions have limited economic activities and likely hurt government revenues from the sale of fuel.
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