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It will limit smuggling... Economic praise for the decision to raise oil prices at local refineries
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Economy News - Baghdad
Today, Wednesday, oil expert Hamza Al-Jawahiri described the decision to raise oil prices at local refineries as “right,” while highlighting its impact on the smuggling of oil derivatives.
Al-Jawahiri said, in an interview with Al-Iqtisad News, that “the decision to raise the price of oil at local refineries is correct, even though it may harm the Iraqi citizen, but in the end it is related to the Iraqi economy,” asking: “Why are oil derivatives sold at less than international prices?”
He added, “The file of smuggling petroleum derivatives is taking place as a result of the price difference between the global price and the government-subsidized internal price,” noting that “Iraq so far imports gasoline at international prices, so why is it sold at subsidized prices?”
The oil expert explained, "This decision will work to reduce the smuggling of petroleum derivatives in Iraq because the difference between global and local prices is the basis of smuggling."
He stated, “The Ministry of Oil is responsible for setting the new price of oil in local refineries, if it is officially decided to adopt it in Iraq,” pointing out that “this decision will support the financial budget.”
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Added 05/15/2024 - 1:53 PM
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Economy News - Baghdad
Today, Wednesday, oil expert Hamza Al-Jawahiri described the decision to raise oil prices at local refineries as “right,” while highlighting its impact on the smuggling of oil derivatives.
Al-Jawahiri said, in an interview with Al-Iqtisad News, that “the decision to raise the price of oil at local refineries is correct, even though it may harm the Iraqi citizen, but in the end it is related to the Iraqi economy,” asking: “Why are oil derivatives sold at less than international prices?”
He added, “The file of smuggling petroleum derivatives is taking place as a result of the price difference between the global price and the government-subsidized internal price,” noting that “Iraq so far imports gasoline at international prices, so why is it sold at subsidized prices?”
The oil expert explained, "This decision will work to reduce the smuggling of petroleum derivatives in Iraq because the difference between global and local prices is the basis of smuggling."
He stated, “The Ministry of Oil is responsible for setting the new price of oil in local refineries, if it is officially decided to adopt it in Iraq,” pointing out that “this decision will support the financial budget.”
Views 59
Added 05/15/2024 - 1:53 PM
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