Iran losing $4 bn a year to fuel smuggling: Report
Extensive fuel smuggling across Iranian borders is leading to an estimated loss of $4 billion per year for the country, according to findings of a report in the local media.
The Sunday report by Fars news agency cited figures from Iranian Oil Ministry’s fuel department showing that smuggling of diesel fuel from Iran had reached over 10 million liters per day.
The figures showed that some five million liters per day of gasoline distributed to motorists in Iran end up in the hands of fuel smugglers operating at southeastern and southern borders of Iran.
“Based on estimates by specialist government departments it seems that the combined amount of smuggling of gasoline and diesel from the country could amount to at least 15 million liters per day which is equal to an annual loss of $4 billion,” said the report.
It said that Iran’s seizures of smuggled gasoline and diesel fuel rose by 250% and 69%, respectively, in the calendar year to late March, compared to the previous year, to reach over 52 million liters combined.
However, it said that extremely cheap prices of gasoline and diesel have lured many people living in Iranian border provinces into the business of fuel smuggling.
The report said that diesel fuel delivered to Iranian power plants for electricity generation currently account for nearly a third of total fuel smuggling from the country.
Iran further raises its oil prices for Chinese buyers: Report
Iran to launch major pressure-boosting projects in South Pars
Iran’s oil exports to China won’t drop because of Trump: Expert
VIDEO | Hezbollah rains attack drones down on elite Israeli brigade
Leader: All captains of criminal, Zionist, terrorist gang must be prosecuted
Iran further raises its oil prices for Chinese buyers: Report
Iran to launch major pressure-boosting projects in South Pars
VIDEO | Escalation amid ceasefire talks
EU's Borrell says ICC arrest warrants for Israeli leaders binding
VIDEO | Press TV's News Headlines
VIDEO | Massacre in Pakistan’s Parachinar sparks outrage
PressTV NEWSLETTER
now
This makes it easy to access the Press TV website
