Fuel prices drop in Sulaimani

File – A general view of Sulaimani city

SULAIMANI (ESTA) — Gasoline and Diesel prices dropped by 25 to 50 Iraqi dinars ($0.034) per liter in Sulaimani province on Monday.

Bahman Abudulla, the spokesperson for Sulaimani gas stations told Esta that the decline in fuel prices is due to the current market status in which there is high supply and low demand.

Fuel prices have hit records high in the Kurdistan Region since there is instability in the world’s energy market following the all-out Russian invasion of Ukraine in early 2022.

Though the Kurdistan Region is one of the largest producers of oil and processed petroleum products, however, the Region is still importing fuel which is partly because it suffers from the lack of local refineries to produce fuel for the local need.

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