-Caveat Lector-
"U.S. and British diplomats have accused Iraq of 'illegally' exporting
oil."
Iraq Raises Gas Prices 33 Percent
By LEON BARKHO
.c The Associated Press
BAGHDAD, Iraq (AP) -- The Iraqi government has raised gasoline prices by at
least 33 percent, the second increase in less than two months.
Oil Ministry officials declined to say what prompted the latest hike, which
went into effect Sunday. Filling up a car with high quality gasoline will now
cost up to $1.25, half a government employee's average monthly salary of
$2.50.
The new rates, although considerable by Iraqi standards, are still low when
compared with prices of essential commodities in the country. An egg in
Baghdad costs 7 cents and a liter of bottled water, 75 cents.
Many people survive by holding second jobs, getting money from relatives
overseas and receiving subsidized food.
Iraq has the second-largest proven oil reserves in the world after Saudi
Arabia. Its refineries now produce 700,000 barrels per day and its domestic
needs are estimated at 500,000 barrels a day, the government says.
U.S. and British diplomats have accused Iraq of smuggling the excess oil and
earning $200 million per month outside its U.N.-approved oil-for-food deal.
Iraqi oil officials deny the charges.
The last time the government raised gasoline prices was in early March, when
the prices of most products, including lubricants and kerosene, were more
than doubled.
Iraq, which has been under U.N. trade sanctions since its 1990 invasion of
Kuwait, can sell a limited quantity of oil to buy humanitarian goods.
It is nearing a record in U.N.-approved oil sales, exporting 14.4 million
barrels of oil last week, the United Nations humanitarian program said
Monday.
Exports ran at an average of slightly more than 2 million barrels per day
between May 1 and May 7, at an average price of $14.44 per barrel, said John
Mills, spokesman for the U.N. Office of the Iraq Program.
In the six months that ended Nov. 15, Iraq generated slightly more than $3
billion in oil sales, the highest total since the program began but well
under the $5 billion allowed.
Revenues have been lifted by an increase in Iraq's daily exports and a sharp
hike in global oil prices that followed the March agreement by major oil
exporting countries to cut production.
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