Iraqi ministry of oil announces hike in fuel prices

[BIG WAVE]

BAGHDAD (DPA) – Iraq's Oil Ministry announced Sunday an increase in gas and fuel prices for the second time in six months in line with Iraq's commitment to the International Monetary Fund (IMF).


Iraq has reached a deal with the IMF whereby the latter will write off Iraq's debts in return for certain conditions, including increased fuel prices.
Moatassem Akram, deputy oil minister told al-Mashreq newspaper on Sunday that the increase in the prices of oil products would take effect from Monday.

The price of gas and gasoline will increase one dinar per liter, while oil will increase from 25 dinars to 100 dinars.
'The plan to increase the prices of oil products is one of the conditions of the IMF. This increase won't be the last but there will be more increases,' Akram said.
http://www.tehrantimes.com/Description.asp?Da=6/19/2006&Cat=9&Num=3

[BIG WAVE]

Thats big,....
Someone,.. somewhere has a plan,....

[icarusII]

BAGHDAD (DPA) – Iraq's Oil Ministry announced Sunday an increase in gas and fuel prices for the second time in six months in line with Iraq's commitment to the International Monetary Fund (IMF).


Iraq has reached a deal with the IMF whereby the latter will write off Iraq's debts in return for certain conditions, including increased fuel prices.
Moatassem Akram, deputy oil minister told al-Mashreq newspaper on Sunday that the increase in the prices of oil products would take effect from Monday.

The price of gas and gasoline will increase one dinar per liter, while oil will increase from 25 dinars to 100 dinars.
'The plan to increase the prices of oil products is one of the conditions of the IMF. This increase won't be the last but there will be more increases,' Akram said.
http://www.tehrantimes.com/Description.asp?Da=6/19/2006&Cat=9&Num=3

Rather interesting......."The price of gas and gasoline will increase one dinar per liter". Current fuel prices are 100 regular/250 premium. The new price will be 101/251?
I think the CBI would need to release some smaller currency denominations to make this work.

Icarus

[lance]

Popped a cap on that one I did. For those of you in the land of sand, the second one I drink will be for you. Lance

[mike sl600 canada]

do they have fils yet,how can they even make change when the smallest denomination is 25 or 50 dinar coins and bills,very strange ,1 dinar is nothing to them

[inquisitive]

101/251 = .40

[Skillet]

Raisng the gas prices one dinar I would think that they are already able to set the currency to acommodate the changes in bussiness.

[BIG WAVE]

MINISTRY OF OIL: NO CHANGES IN FUEL PRICES


Baghdad, Jun.19 p.1
Ministry of oil has said that no changes will be there on the prices of fuel, and that what has been published about what the deputy of the minister is not true.


At this time, gas station has witnessed a crowding the thing which threaten of the emerging of a new crisis.
An authorized source within the ministry said that it did not take any decision of increasing fuel prices, stressing that these prices will continuo on its current level which is 250 diners for the gallon.
http://www.alsabaah.com/paper.php?source=akbar&mlf=interpage&sid=25145

[Eatin' Dinar]

sounds like someone jumped the gun on that one.

[BIG WAVE]

BAGHDAD - Iraq’s Oil Ministry announced Sunday an increase in gas and fuel prices for the second time in six months in line with Iraq’s commitment to the International Monetary Fund (IMF).
Iraq has reaced a deal with the IMF whereby the latter will write off Iraq’s debts in return for certain conditions, including increased fuel prices.
Moatassem Akram, deputy oil minister told Al Mashreq newspaper on Sunday that the increase in the prices of oil products would take effect from Monday.
The price of gas and gasoline will increase one dinar per litre, while oil will increase from 25 dinars to 100 dinars.
“The plan to increase the prices of oil products is one of the conditions of the IMF. This increase won’t be the last but there will be more increases,” Akram said.
The Iraqi government began fuel price increases in January. But the move has aroused the anger of the Iraqi people.
The government said that the profit from the price hikes would be distributed through a network of social benefits to the poor, displaced and handicapped segments of the society.
Iraqi cities are now witnessing a shortage of gas with thousands of vehicles queuing up daily in front of gas stations.
http://www.khaleejtimes.com/DisplayArticleNew.asp?section=business&xfile=data/business/2006/june/business_june498.xml

[Sporter]

BAGHDAD - Iraq’s Oil Ministry announced Sunday an increase in gas and fuel prices for the second time in six months in line with Iraq’s commitment to the International Monetary Fund (IMF).
Iraq has reaced a deal with the IMF whereby the latter will write off Iraq’s debts in return for certain conditions, including increased fuel prices.
Moatassem Akram, deputy oil minister told Al Mashreq newspaper on Sunday that the increase in the prices of oil products would take effect from Monday.
The price of gas and gasoline will increase one dinar per litre, while oil will increase from 25 dinars to 100 dinars.
“The plan to increase the prices of oil products is one of the conditions of the IMF. This increase won’t be the last but there will be more increases,” Akram said.
The Iraqi government began fuel price increases in January. But the move has aroused the anger of the Iraqi people.
The government said that the profit from the price hikes would be distributed through a network of social benefits to the poor, displaced and handicapped segments of the society.
Iraqi cities are now witnessing a shortage of gas with thousands of vehicles queuing up daily in front of gas stations.
http://www.khaleejtimes.com/DisplayArticleNew.asp?section=business&xfile=data/business/2006/june/business_june498.xml

Was this a release leak?. Why put it on the wire then deny it?.