Expectations to drop fuel prices after ‘Lanaz’ refinery operations were quite opposite: MP

SULAIMANI (ESTA) — The Kurdistan Region’s local oil refinery (Lanaz) is expected to drop gasoline prices after its operations, but it sold fuel supplies by 1210 Iraqi dinars (0.83$) meanwhile the price is same as in the Region’s fuel stations, said Member of Parliament Ali Hama Saleh on Saturday.

The Head of the energy committee and natural resources in the Kurdistan Region parliament said that Lanaz oil refinery is producing fuel and gasoline in a high-quality manner, “thus means it does not get crude supplies with expensive price”.

“Lanaz produces a fuel with excellent quality, however, it sells the products with an expensive price” and, “Today it sold 7 million litters with wholesale by (0.83$) per litter,” Hama Saleh said.

Fuel prices have gone up since late summer of 2021 and thus resulted in finical burden for the Kurdish people, several protests have taken place in Sulaimani and Erbil as well in order to pressure the government to drop the fuel prices, however, up to this point, the prices remains unchanged and even continue to hike.

Late on Thursday, fuel prices at the Region’s gas station hit a new record, one liter per normal grade has hiked from (0.83$) to (0.86$), price per supreme grade sold at 1$ per liter, while in 2021 it was sold at (0.48$).

The Kurdistan Region is one of the largest producers of oil and processed petroleum products. In recent years, it has become a major exporter, sending large quantities to the global markets.

Yet, the Region imports gasoline from the outside. That’s partly because it suffers from the lack of local refineries to produce fuel for the region itself.

The committee head further stated that “within the providing fuel and gasoline by Lanaz local refinery with a suitable price, it can play a significant role to drop fuel prices, but if it continues to operate like this, it will not mark any impacts”.

Lanaz ownership backs to Yaser Mansour Barzani allegedly, the grandson of the Kurdistan Democratic Party leader and former President of the Kurdistan Region, according to an interview that Yaser Barzani told an American news outlet (einnews).

Einnews cited Yaser Barazni’s words as saying that he also owns (Black Wolf) private security in the Region.

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