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Raising crude prices does not affect the citizen's budget, Minister says

Category: Economy

Date: 2021-02-07T18:29:28+0000
Raising crude prices does not affect the citizen's budget, Minister says

Shafaq News / The Ministry of Oil announced that raising crude oil prices will not affect oil derivatives' selling prices.

The Minister of Oil, Ihsan Abdul-Jabbar, said in a statement received by Shafaq News agency, "raising the prices of selling crude oil to local refineries will not affect the selling prices of oil derivatives to the citizens at all," indicating, "raising the prices of crude arriving at the refineries, which the Parliamentary Finance Committee proposed, aims to maximize budget imports."

Abdul-Jabbar added, "the ministry is monitoring the fuel prices and quantities that reach the citizens. It will not allow the manipulation of their levels."

It is noteworthy that the Parliamentary Finance Committee proposed raising the price of crude oil to local refineries to maximize state revenues.

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