Liquefied petroleum gas and diesel oil in black market in Syria

ANKARA (A.A) - December 15, 2011 - An LPG in Syria sells for 500 Syrian liras despite its normal price of 260 Syrian liras while a litre of diesel oil sells for 25 Syrian liras albeit a normal price of 15 Syrian liras per litre. Long lines of people waiting for LPG and diesel oil can be seen in all corners of Syria. Syria began to feel the consequences of international sanctions imposed on it as its revenue from the sale of 90 percent of 125,000 barrels of oil to the EU countries daily in 2010 came down significantly in 2011. In 2010, Syria produced 385,000 barrels of oil per day. After companies as Total, Petrocanada and Shell suspended activities in the country, the daily production of oil in Syria went down to 270,000 barrels. Due to winter conditions, the demand for petroleum products increased 15 percent in Syria. In an attempt to deal with decreasing amounts of diesel oil, the central government of Syria permits only 25 liters of diesel oil to pickup trucks, 40 liters to minibuses and 60 liters to trucks. The Central Bank of Syria intervened in the market so that the Syrian lira did not lose value against the U.S. dollar. The Central Bank presents 5,450 Syrian liras for every 100 USD. Syrians, in general, can find daily needs in markets. However, many shop owners seem to be stocking on items such as flour, oil and sugar. People in Syrian cities fear that basic food items may not remain in the markets and, as such, they may have to find and buy them in the black market. Syrian authorities cut off electricity for up to three hours in various cities daily.