Monday 18 / 12 / 2017 | 19:33

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Oil prices drop in Deir Ezzor amid ongoing intense battles in northern Aleppo

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Oil prices in Deir Ezzor have fallen recently after all roads leading to Aleppo have been cut off by both intensive Russian airstrikes and the ongoing fierce clashes between the Assad-regime and allied Shia militias against some rebels factions in the area.

As northern Aleppo-Deir Ezzor oil trade was halted recently, the oil prices in Deir Ezzor have dropped significantly. One barrel of diesel costs now around 14 Syrian lira while one barrel of gasoline costs 33 Syrian lira. Contrary to the current situation, the price of one barrel of gasoline used to be sold for 40 Syrian lira a little while ago. Northern Aleppo is considered the biggest market of DeirEzzor’s oil, which is transported by tankers driven by civilians from the province towards Aleppo, D 24 correspondent in Deir Ezzor said.

He added ‘’ not only the prices of oil have been affected in the province amid the ongoing battles in northern Aleppo, but also the prices of food imported from northern Aleppo have risen recently. The prices of food imported from Aleppo are increasing day by day coinciding with a drop in oil prices as well.”

It should be noted that the ISIS-run oil fields in Deir Ezzor extract crude oil and then sell it in dollars to local traders who later refine it and sell its derivatives in Hamah, Aleppo, Raqqa, and Idlib.