In an Arab country.. a liter of gasoline is approaching the dollar!

In a statement to the Iraqi government, the Council of Ministers decided in a session yesterday, Tuesday, to raise the price of enhanced gasoline (95 octane) from 650 dinars to 850 dinars per liter, equivalent to 65 American cents, as well as premium gasoline (98 octane) from 1,000 dinars to 1,250 dinars. A dinar, about 95 US cents, starting from the beginning of next May.

While regular gasoline (low octane) did not witness any increase, remaining at approximately 450 dinars, about 34 US cents.

The decision to raise fuel prices comes with the aim of encouraging mass transportation for employees to reduce traffic congestion and adopting the use of gas for cars as a less expensive alternative fuel for cars in light of the presence of more than eight million cars causing traffic congestion and affecting several economic sectors. (cnbc)