Ministry Forms Pricing Committee
Syria's Ministry of Energy has established a permanent committee to set the prices of petroleum products and mineral resources, under Decision No. 844 of 2026 issued by Energy Minister Muhammad al-Bashir. The body is tasked with bringing a single, standing mechanism to the way fuel and mineral prices are determined.
The ministry framed the move as an effort to strengthen governance and transparency in pricing and to adapt to local and global economic shifts affecting the energy and mineral sectors.
Who Sits on the Body
The committee is chaired by the Deputy Energy Minister for Oil Affairs, Ghiath Diab. Its membership draws representatives from the Ministries of Finance, Economy, and Industry, alongside the Central Bank of Syria (CBS) and the authorities responsible for oil and mineral resources.
Pulling several economic arms of the state into one panel signals an attempt to coordinate decisions that were previously handled across separate agencies.
How Prices Will Be Set
Under the decision, the committee will study petroleum and mineral prices against global market rates, production and supply costs, the exchange rate of the Syrian pound (SYP), subsidy mechanisms, and related indicators. It is to establish pricing criteria, review and update them periodically, and submit its recommendations to the energy minister.
By writing the pound's exchange rate directly into the pricing formula, the framework ties the cost of fuel and minerals to currency movements that households and businesses already track closely.
Why It Matters
Fuel and mineral pricing reaches deep into the cost of transport, electricity generation, and basic goods, making the mechanism behind those prices a matter of daily economic life. A standing committee replaces ad hoc adjustments with a defined process.
The ministry presented the step as part of a broader push to improve decision-making, tighten coordination between agencies, and balance market requirements with the public interest while supporting the long-term sustainability of the energy and mineral sectors.