Iran’s strategic gasoline storage hits 1.3 bln liters

Business Materials 11 June 2016 15:03 (UTC +04:00)

Baku, Azerbaijan, June 11

By Fatih Karimov - Trend:

Iran's strategic gasoline storage amounted for 1.32 billion liters by the end of last fiscal year(March 20).

The country's Euro 4 gasoline storage stood at 178 million liters by March 20, Mehr news agency reported June 11 citing the country's oil ministry.

The highest amount of Euro 4 gasoline storage during the last fiscal year (ended March 20) recorded in March 2015 with 289 million liters, meanwhile the lowest amount registered in August 2015 with 57 million liters.

The country's strategic storage of non-Euro 4 gasoline was about 961 million liters by end of last fiscal year(March 20), which was also the highest amount of storage in the 12-month period. The lowest storage amount was recorded in August 2015 with 475 million liters.

Premium gasoline storage amounted at 175 million liters by the end of last fiscal year as well.

The daily gasoline consumption in Iran stands at about 85.8 million liters per day. Over the past Iranian year, the gasoline import to Iran increased by 100 percent. In the meantime, the country's gasoline consumption rose by 2 percent. During the last Iranian fiscal year, Iran imported nine million liters of gasoline per day, whereas the number was 4.5 million per day a year earlier.

The country's nine refineries averagely produced 62.5 million liters of gasoline per day during the last fiscal year.

Iran says that would stop gasoline import by August 2016 after the Persian Gulf Star refinery's first phase becomes operational. The Islamic Republic currently imports only Euro-4 gasoline.

The country also plans to increase its strategic fuel storage(including gasoline and diesel) capacity to 13 billion liters by March 2017.