Iraqi government to increase fuel prices

[currenzcraze]

Iraqi government to increase fuel prices

• Amr Salem
•  March 27, 2024
•  670
•  2 min

Cars filling up at a petrol station in Baghdad, Iraq. Photo: AFP

Baghdad (IraqiNews.com) – The public has been shocked by the Iraqi cabinet’s recent decision on Tuesday to increase gasoline prices for automobiles.

Premium gasoline will now cost 30 percent more, while super-grade gasoline will cost 25 percent more.

This measure, which was part of a wider government attempt to alleviate traffic congestion, has instead caused considerable resentment and fury among drivers, particularly taxi drivers.

The cabinet increased the cost of premium gasoline (95 octane) from 650 Iraqi dinars ($0.50) to 850 Iraqi dinars ($0.65) per liter at its weekly meeting.

The price of super gasoline (98 octane) will rise from 1,000 to 1,250 dinars. The price of regular gasoline (low octane) will remain at 450 dinars.

The cabinet said that the new rates would take effect on May 1.

Mustafa Al-Kadhimi’s government reduced the cost of premium high-octane gasoline from 850 dinars to 650 dinars per liter in 2020. 

Growing worries are being expressed about the possible effects on the economy, particularly the possibility of a more widespread price increase that would affect many industries across the country.

[screwball]

Yep without increased welfare or salaries? 🙏⏰🎯💯

Edited March 28 by screwball

[md11fr8dawg]

More $$$ for Ole Tater Head and his cronies!!!!

[BETTYBOOP]

They should try having a car in the USA or the UK. They would be grey haired over night. !!! 

[haymon]

I wonder,,,, how many electric cars are there?

Haa, would think NONE!!

[rvmydinar]

2 hours ago, currenzcraze said:

 

Hmm...what is brandname of that black colour car? BMW? Or BENZ? Just wonder...who drives that black car? The corrupt wealthy iraqi politician?

[Snatcher]

1 hour ago, rvmydinar said:

Hmm...what is brandname of that black colour car? BMW? Or BENZ? Just wonder...who drives that black car? The corrupt wealthy iraqi politician?

Pretty sure 2020 Kia Optima's don't cost that much even in Iraq.lol

Edited March 28 by Snatcher

[edbeach]

Report just out 3/27/24  The Kia is #1 selling car in Iraq and Toyota #2 and Hyundai #3 cars selling in 2023 sales in Iraq,

[haymon]

KIA  in Arabic is camel.

[BETTYBOOP]

I have a hyundia  bayon. Fabulous  car. Great to drive and great fuel economy 

[Fimum]

I have the smaller version; the bayonette.

[rvmydinar]

2 hours ago, Snatcher said:

Pretty sure 2020 Kia Optima's don't cost that much even in Iraq.lol

If the ordinary Iraqi citizens can afford to drive that Kia , just wonder....how much are the ordinary citizens's monthly salary?

[BETTYBOOP]

their salaries are garbage compared to the West. I am sure @Laid Back worked it out at some point.. If I Robertson correctly their monthly salary was less than I earn in a week. With gas at 65 c or there about they are lucky. Last time I saw uk gas at that price I was still a child. Granted it is expensive for them but I would give my eye teeth for gas to be that cheap

[NWGUY]

I really miss the old days here in the old US of A, when we could buy gas for .75.   Even a few years ago, when Trump was the president, we were under $2.00 a gallon.  Loved that!  

[horsesoldier]

7 minutes ago, NWGUY said:

I really miss the old days here in the old US of A, when we could buy gas for .75.   Even a few years ago, when Trump was the president, we were under $2.00 a gallon.  Loved that!  

I remember when my mom exclaimed that gas had risen to 25 cents up from 23 cents. Of course that was back in the day before Xmas & Halloween... lol 😂

[chris2028]

I remember my mom would put $10 worth of gas in the car on Sunday night and it would last nearly all week. Ahh the good ole days... Lol

[Laid Back]

6 hours ago, BETTYBOOP said:

their salaries are garbage compared to the West. I am sure @Laid Back worked it out at some point.. If I Robertson correctly their monthly salary was less than I earn in a week. With gas at 65 c or there about they are lucky. Last time I saw uk gas at that price I was still a child. Granted it is expensive for them but I would give my eye teeth for gas to be that cheap

“Head of the Iraqi parliament’s finance committee, told Iraqi state media that the budget bill 2023 sets the minimum nominal wage at 425,000 dinars ($324) adding that lower grade salaries will increase by 150 percent according to the new scale.”

 

Raising the price of gas without increasing purchasing power could ignite massive protests.

 

Just my opinion 

 

Go Stronger dinar

Go purchasing power 

[rvmydinar]

1 hour ago, Laid Back said:

“Head of the Iraqi parliament’s finance committee, told Iraqi state media that the budget bill 2023 sets the minimum nominal wage at 425,000 dinars ($324) 

With a minimum wage at 425,000 dinars , it is kind of hard to buy or even get a loan to buy that Kia for ordinary citizens + monthly cost of living with 2 children at least.

[rvmydinar]

19 hours ago, Snatcher said:

Pretty sure 2020 Kia Optima's don't cost that much even in Iraq.lol

How cheap does Kia cost in Iraq?. Do you think ordinary citizens can buy Kia with a minimum wage at 425,000 dinars/ month? May be only wealthy corrupt can afford to buy Kia.

[NWGUY]

Yeah, I agree.  Once the people really start feeling the pain, there will be a lot of pressure on the government to do something.  Especially, if they want to keep their jobs, much less there lives!