The Syrian Ministry of Energy denied on Tuesday, March 3, any current shortage of fuel products, including gasoline, diesel, and household gas.
In a statement, the ministry said that operating refineries continue to perform their duties normally, noting that crude oil import contracts remain in place through approved channels.
It added that operational stock levels are within safe limits, and that quantities are being refined according to regular production schedules.
The ministry attributed the congestion at fuel stations over the past hours to a sharp spike in demand, which it said exceeded 300 percent compared to the normal daily average.
It explained that the rise in demand was driven by fears over regional developments and the spread of rumors regarding potential shortages.
The Ministry of Energy said it is monitoring regional developments on a daily and proactive basis, and is taking the necessary measures to ensure the continuity of essential services.
It called on citizens to rely on official sources for information and to avoid being drawn into rumors that could place unjustified pressure on the distribution system.
In a statement sent to Enab Baladi, the ministry’s Media Directorate said the oil supply system is operating under its regular plans, refineries are continuing production, and there is no shortage in the local market.
The statement added that the ministry is managing stockpiles according to multiple scenarios to ensure market stability.
Regarding the decline in electricity supply hours, the ministry said the reduction is solely linked to a decrease in gas allocated for power generation. It noted that the shortfall is being offset through local production and load redistribution to maintain system stability.
An Enab Baladi correspondent observed heavy congestion at fuel stations in Damascus, with some drivers saying they had to wait for hours to refuel their vehicles.
Fears of price hikes
The war involving Iran has sparked widespread concern in global energy markets, amid expectations of a significant rise in oil prices if escalation continues.
Although Iran’s production accounts for only 3 to 4 percent of global output, its sensitive geographic position near the Strait of Hormuz, through which roughly one fifth of globally traded oil passes, makes markets highly vulnerable to any disruption there.
On Monday, March 2, Iran announced the closure of the strait, through which 20 percent of global energy supplies transit, and threatened to target any vessel crossing it.
The escalating tensions have led to the suspension of more than 200 oil and liquefied natural gas tankers in the Gulf after some vessels were reportedly attacked, causing damage and killing one sailor.
Energy experts warn that any prolonged disruption to traffic through the Strait of Hormuz could push oil prices above 100 dollars per barrel, posing a significant risk to the global economy, particularly as central banks attempt to curb inflation.
According to Capital Economics, if the conflict drags on and Iranian supplies are disrupted, or if Tehran seeks to obstruct oil shipments through the strait, prices could quickly rise to critical levels.
The Financial Times reported that higher energy prices threaten a resurgence of inflation in major economies and could undermine plans to cut interest rates. Capital Economics’ chief economist, Neil Shearing, said oil remains the most influential factor at the current stage.
Fuel prices have already seen notable increases in five Arab countries following the outbreak of war in Iran and growing expectations of a sharp rise in global oil prices, alongside mounting concerns over supply stability.
According to the specialized energy platform Energy Platform, based in Washington, Jordan, Qatar, the United Arab Emirates, Palestine, and Morocco have announced and implemented new price increases starting March 1, 2026, amid global market pressures and accelerating volatility since the onset of military confrontations in the region.
“Syrian Energy Ministry”: No fuel crisis, stocks within safe limits Enab Baladi.
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