Syria Reverts Fuel Payments to Syrian Pound After Station Owners' Protest

The Syrian Petroleum Company on March 25 allowed private fuel station owners to pay for petroleum products in Syrian pounds, a reversal of a prior requirement to remit payments in US dollars. The change followed a sit-in by station owners on March 24 outside the Ministry of Energy in Damascus, who complained that selling fuel in pounds but paying suppliers in dollars to the Central Bank was causing heavy losses. The company said the decision — coordinated with the Ministry of Energy, the Central Bank and other authorities under CEO Youssef Qablawi — aims to ease foreign currency constraints, stabilize supplies and reduce burdens on station operators.

Context and reaction

Protesters said their profit margins were minimal and called for margins of 6–7 percent; some also reported irregular temperature-related volume differences between refineries that effectively cost them 100–150 liters. Economic expert Dr. Ali Mohammed told Enab Baladi that the dollar payment requirement had contributed to a rapid depreciation of the Syrian pound (an increase of roughly 500 SYP in days) and called the return to pound payments a logical step. He recommended that stations submit daily sales payment statements in whichever currency is used to avoid additional demand for foreign currency and help stabilize the market, a move seen as supporting continuity of operations and public supply needs, as reported by Enab Baladi