Energy
0

Rising Consumption, Smuggling Hinder Gasoline Export

The NIORDC produces close to 90 million liters of gasoline per day, but massive local consumption, which has exceeded 85 ml/d, leaves no room for exports
Rising Consumption, Smuggling Hinder Gasoline Export
Rising Consumption, Smuggling Hinder Gasoline Export

Exports of gasoline have been suspended since May not only due to heavy domestic consumption but also owing to the rise in fuel smuggling, a member of the Iranian Oil, Gas and Petrochemical Products Exporters' Union said.
“The revocation of inter-city traffic and travel restrictions has spiked gasoline consumption by 50% and caused supply and demand to reach equilibrium,” ILNA also quoted Hamid Hosseini as saying.
“In other words, the National Iranian Oil Company had to halt the sale of gasoline to neighboring states, including Iraq, Afghanistan and Pakistan, as there is no excess fuel for export and whatever is produced is being burnt domestically,” he said.

Premium

Subscribe to the Financial Tribune to continue reading this article or Log in to your account if you are already a subscriber.

Find out more about our subsciption plans here.

Add new comment

Financialtribune.com