Amid fluctuations in worldwide oil prices, questions are being raised about the impact of this decline on fuel prices in diverse countries, which includes Iraq.
whilst a few nations can also witness a decrease in gas and diesel prices, Iraq remains an incredible case due to its local pricing regulations that isolate it from international fluctuations. Will this lower be meditated inside the Iraqi market, or will costs stay stable in spite of international modifications?
in this regard, oil professional Hamza Al-Jawahiri showed to dinaropinions.com that: “Iraq differs from international locations which can witness a decrease in gas charges along with fuel and diesel,” noting that “the prices of white petroleum merchandise in Iraq are not linked to the global fee of oil, but remain solid no matter fluctuations in crude oil expenses.”
He explained that “the current drop in oil fees from $seventy five to $70 in step with barrel is restricted, or even in countries that rely on international costs, this decline will no longer be extensively felt via citizens.”
Al-Jawahiri added that “Iraq will no longer witness any exchange in fuel expenses due to those changes, given the neighborhood pricing policy followed via the authorities.”
3 Arab international locations are moving to reduce their fuel fees. strength Platform reported that fuel and diesel costs in the UAE, Jordan, and Qatar can also decline through early subsequent month, in light of the decline in oil costs all through March.
The platform defined that “the decline in the worldwide fee of a barrel of oil is casting a shadow over gas charges in a big wide variety of countries, as prices declined after the OPEC+ group of eight countries announced the sluggish abandonment of the voluntary oil production cut, starting in April.”
It additionally stated that fuel expenses are anticipated to upward push in Egypt, because the computerized Pricing Committee for Petroleum Derivatives is scheduled to preserve its new assembly on the end of next month, based on Cairo’s dedication to delay the committee’s meeting for six months, which become in the beginning scheduled for October 18, 2024.
