Baghdad The Ministry of Oil announced that the state budget suffers losses estimated at five thousand billion dinars per day as a result of government support for the price of fuel oil.

The Ministry of Oil clarified in a statement: “The financial losses incurred by the state budget amount to five thousand billion dinars per day due to the failure to export all the produced quantities of fuel oil (black oil) or sell it according to the prices of the international bulletin, as well as allocating part of it to equip traders and (owners of laboratories) at a subsidized price.

It is noteworthy that the current price of a ton of fuel oil (black oil), according to the global bulletin, is (900 thousand dinars), while the oil products distribution company is preparing black oil for local factories and factories producing oxidized asphalt at a price of (300 thousand dinars) per ton and for owners of brick factories at a price of ( 100 thousand dinars) per ton.

Source: National Iraqi News Agency