Idlib | Unstable value of Turkish lira against foreign currency leads to raise of prices

SOHR sources have reported that the Turkish lira has plummeted again against foreign currency, as the Turkish lira against the US dollar exceeded eight liras, which renewed the crisis of essentials’ high process in north Syria region, especially the prices of fuel.

 

In this context, SOHR activists have documented an increase in fuel prices, as the HTS-backed “Watad Petroleum Company”, which dominates fuel market in Idlib, has raised the prices of fuel as follows:

 

• Imported oil: from 5.00 TL to 6.90 TL per litre.

 

• Petrol: from 5.50 TL to 6.30 TL per litre.

 

• Gas cylinder: from 78 TL to 88 TL.

 

It is worth noting that the new prices come two days after the company had reduced fuel prices following the improvement of the Turkish lira against foreign currency.

 

Local sources in Idlib city have informed SOHR that the new high prices also covered other essential products and food, including vegetables, fruit, chicken and meet, which makes the residents of Idlib city and countryside shoulder extra burdens, especially with Ramadan approaching.

 

As a part of the exploitation of the crisis, merchants usually set the prices of their goods according to the higher prices, despite they had got these goods at lower prices before the Turkish currency plunge, while owners of fuel stores suspended the selling of fuel until the following day, as they had been informed of the increasing prices.

 

In a testimony to SOHR, a displaced man in Armanaz camp in north-western Idlib said “when I went on Sunday to buy gasoline for my car, the shopkeeper refused to sell me any, claming that he ran out of gasoline and told me to come in the following day. After I was informed of the rise in fuel prices, I do not think to use my car any more. The prices of food have been also risen greatly, especially vegetables, bread and meet, as cooking oil has reached 12.00 TL per litre, milk has reached 6.00 TL per litre, bread pack has reached 2.50 TL, Lamb has reached 50.00 TL per kilogram, and short rise has reached 9.00 TL per kilogram. These astronomically inflated prices have sparked considerable popular anger among the residents of Idlib, particularly the inhabitants of refugee camps, who have already been grappling with dire living conditions and lack of support provided by humanitarian organizations.”