The Kurdistan Regional Government (KRG) expects commercial regular oil prices to drop soon. The price should fall to 850 Iraqi dinars per liter within two weeks. This update comes from the Acting Minister of Natural Resources.
In a ministry statement, Minister Kamal Mohammed noted new government steps. Furthermore, these actions aim to boost gasoline supplies across the Kurdistan Region. He believes the extra supply will gradually lower fuel prices.
The commercial price of regular gasoline could hit 900 dinars per liter by this weekend. Moreover, without new supply disruptions, prices should drop to 850 dinars within two weeks.
To fix shortages, the ministry ordered fast-tracked import procedures. Agencies must speed up gasoline imports from central and southern Iraq. This directive went to governorates, independent administrations, and security authorities. Additionally, it also reached oil companies and several ministry departments.
Officials believe higher imports will improve market supply. This change will reduce pressure on commercial fuel prices.
According to the ministry, the Kurdistan Region consumes about 5 million liters of oil daily. This total includes regular, premium, and super grades.
Local refineries currently produce around 1.8 million liters of regular gasoline per day. This output covers roughly 40% of domestic demand. The government sells this fuel at a subsidized price of 750 dinars per liter. It is distributed through designated stations.
However, reduced federal fuel allocations have created supply challenges. Previously, Baghdad supplied 65,000 barrels of gasoline per day to the region. That amount has now fallen to 50,000 barrels per day. This drop creates a significant shortfall.
The Kurdistan Region also imports nearly 1 million liters of premium and super oil daily. These imports come from Turkey and Iran. Even with these imports, officials estimate a daily shortage of 1.5 million liters.
To close the gap, the KRG will boost imports from central and southern Iraq. Therefore, they will also continue efforts to stabilize the market.
Officials believe the extra fuel will improve overall availability. It will shorten wait times at stations and help lower commercial prices.
