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Syria will increase the retail price of fuel oil by 53 percent starting Sept. 15 to limit smuggling, the state-owned Thawra newspaper said.

The Arab country will sell fuel oil at 13,000 Syrian pounds ($275) a metric ton, up from 8,500 pounds currently, to reduce illicit selling of the subsidized fuel that can also be bought at global prices on the local market, it said, citing Abdullah Al-Khattab, general manager of the state-owned Syrian Co. for the Storage and Distribution of Petroleum Products.

Bloomberg

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