BIG WAVE
07-02-2006, 03:11 PM
Fuel prices have surged despite a reported hike in oil output.
The latest skyrocketing rates come nearly two weeks after the new Oil Minister Hussein Shahristani assumed his post.
The hikes, according to several ministry officials, are the result of policies which usually mirror factional and sectarian differences in the Iraqi political landscape rather than national interests.
A liter of gasoline has hit 1,500 dinars (a little more than one U.S. dollar), an unprecedented hike in a country which swims over massive lakes of crude oil reserves said to be the second largest in the world.
The official price of 250 dinars per liter is now a dream for many motorists as most of the filling stations in Baghdad have run out of subsidized fuel.
http://www.azzaman.com/english/index.asp?fname=news\2006-07-02\124.htm
The latest skyrocketing rates come nearly two weeks after the new Oil Minister Hussein Shahristani assumed his post.
The hikes, according to several ministry officials, are the result of policies which usually mirror factional and sectarian differences in the Iraqi political landscape rather than national interests.
A liter of gasoline has hit 1,500 dinars (a little more than one U.S. dollar), an unprecedented hike in a country which swims over massive lakes of crude oil reserves said to be the second largest in the world.
The official price of 250 dinars per liter is now a dream for many motorists as most of the filling stations in Baghdad have run out of subsidized fuel.
http://www.azzaman.com/english/index.asp?fname=news\2006-07-02\124.htm