Residents stock up during summer

Demand rises for heating oil in Kurdistan region ahead of winter

SULAYMANIYAH, August 15 — Demand for heating oil among the Kurdistan region’s residents is on the rise as people prepare for the upcoming winter.

According to local vendors, prices have risen by nearly 30,000 Iraqi dinars within a span of two months, especially in Sulaymaniyah, which is particularly susceptible to cold spells.

Salar Abdullah, one seller, told 964: “People started buying heating oil in June, and the price of a barrel is now 150,000 dinars.”

“The price of a barrel of heating oil during winter can reach up to 230,000 dinars, while the price per barrel was around 190,000 dinars in August 2022.”

Most of the oil comes from Baghdad, and is preferred for its high quality, while lower-quality oil from Kirkuk runs cheaper at 130,000 dinars.

“Despite the heat, people are buying oil now because they fear that its price will increase in the winter. Just two months ago, the price per barrel was around 120,000 dinars,” Abdullah addded.