Damascus, Sept. 13 (SANA)Syria has temporarily raised prices forgasoline, diesel and otherpetroleum productsas surging global refined-fuel costs and a major overhaul atBaniyas Refineryincrease the country’s reliance on imports, theEnergy Ministrysaid.The new prices, which took effect at midnight Sunday, set 95-octane gasoline at SYP 195 per liter (about $1.60), 90-octane gasoline at SYP 185 per liter ($1.52) and diesel at SYP 175 per liter ($1.43), based on an exchange rate of SYP 122 to the dollar. Household LPG was set at SYP 1,600 (about $13.11), while industrial LPG was priced at SYP 2,560 ($20.98).The ministry said the increase reflected a combination of international market pressures and domestic supply constraints rather than higher crude oil prices alone.Global refined-fuel markets have been squeezed by reduced refining capacity in Russia and the Middle East, disruptions to shipping through the Strait of Hormuz, Bab al-Mandab, the Red Sea and the Gulf of Aden, and rising freight and insurance costs.Those pressures have pushed diesel prices to nearly $1,400 per ton and gasoline to around $1,350 per ton, according to prices monitored by the ministry, while Brent crude has been trading near $100 a barrel.

Baniyas overhaul increases import needs

The global pressures coincide with a comprehensive overhaul of Baniyas Refinery, expected to last around two months, temporarily reducing Syria’s domestic refining capacity and increasing the need for imported petroleum products.Syria currently requires around 300,000 barrels per day of crude oil and petroleum products, compared with domestic crude production of roughly 100,000 barrels per day, the ministry said.Imports account for about 60% of Syria’s daily diesel supply. The country requires around 7.72 million liters of diesel a day, of which 4.63 million liters are imported and 3.09 million liters are produced domestically, according to the ministry.Daily gasoline supplies average 2.32 million liters, including around 775,000 liters of imports, while household LPG supplies average about 912 tons a day, with imports also accounting for a significant share.The ministry said some domestically produced Syrian crude is heavy and is not fully compatible with the capabilities and specifications of existing refineries, limiting the extent to which local crude can replace imported gasoline and diesel.

Temporary increase aimed at maintaining supplies

The ministry said the price adjustment was intended to narrow the gap between the cost of securing petroleum products and their domestic selling prices, allowing the Syrian Petroleum Company to finance successive shipments and maintain supplies to the local market.It stressed that the increase was temporary and that prices would remain under review as global market conditions change and domestic refining capacity returns following completion of the Baniyas overhaul.Over the longer term, the ministry said reducing Syria’s dependence on imports would require increasing domestic oil and gas production, rehabilitating fields and wells, expanding refining capacity, upgrading refineries, pipelines and strategic facilities, strengthening storage capacity, diversifying supply sources and attracting investment and partnerships in the oil and gas sector.Higher domestic production and refining capacity would help reduce imports and limit the Syrian market’s exposure to global price and supply shocks while maintaining supplies of gasoline, diesel and household gas, the ministry said.