Out of 170 countries on the list for the month of June, Iraq came in 19th with the lowest prices for gasoline.
According to Global Petrol Prices, a company that specializes in the prices of fuel and electric energy, the price of gasoline in Iraq is $0.649 per liter.
Libya, Venezuela, Egypt, Algeria, Kuwait, Angola, Turkmenistan, Malaysia, and Nigeria came in second and third, respectively, with the cheapest gasoline available locally at $0.029 per liter.
The cost of gasoline per liter worldwide is on average $1.31. Nonetheless, there is a huge dissimilarity in evaluating between various nations.
As a rule, rich countries have greater costs, though more unfortunate nations and those that produce and commodity oil have far lower costs.
Due to varying taxes and subsidies, gasoline prices vary by nation.
All nations have access to the same global pricing for petroleum, but they choose to impose different taxes. Subsequently, the retail cost of fuel fluctuates.
Iraq’s fuel imports had diminished by 50% following the activity of the Karbala treatment facility.
The Iraqi Minister of Oil, Hayan Abdul-Ghani, made the announcement in May that increased refining capacities make it easier to gradually shift from imports to exports.
Prior in June, the Iraqi State head, Mohammed Shia Al-Sudani, expressed that Iraq’s fuel creation arrived at 24,800 cubic meters each day, up from 15,000 cubic meters each day in 2022.
Al-Sudani’s comments occurred during the introduction of a super charged fuel isomerization unit in the Basra Treatment facility.
Last December, the Overseer of Karbala Processing plant, Haider Al-Hasani, affirmed that the treatment facility covers somewhere in the range of 50 and 60 percent of the nation’s necessities.
Because the Karbala Refinery was designed to produce as much gasoline as possible, including high-octane fuel, its fuel products are superior to imported ones.
The refinery currently has a capacity to produce approximately eight million liters of various fuels.
