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Iran unveils crucial gasoline reserves

US Rep. Ilhan Omar (D-MN) (L) talks with Speaker of the House Nancy Pelosi (D-CA) during a rally with fellow Democrats before voting on H.R. 1, or the People Act, on the East Steps of the US Capitol on March 08, 2019 in Washington, DC. (AFP photo)
Iran says it has enough reserves of gasoline in its strategic storage tanks to satisfy domestic demand for four months.

Iran said on Saturday that it has enough reserves of gasoline in its strategic storage tanks to satisfy domestic demand for four months.

Bijan Haj-Mohammadreza, the president of Gasoline Station Owners Union of Iran, told local media that about four billion liters of gasoline and other fuel products have been stored in strategic reserves. 

Haj-Mohammadreza said this marks a major progress compared to the previous years when the country had reserves that he said could support demand for “only a few days”.

He added that Iran is currently importing 10 million liters of gasoline per day on average, adding that the figure is two times higher than last year when imports stood at about 4.4 million liters per day.

The official further emphasized that the imports of gasoline are currently being carried out through southern ports, adding that imports from through the northern ports have been suspended due to the poor standards of exporting countries.    

Official figures show that Iran’s current production capacity of gasoline stands at 60 million liters per day. This is while consumption stands at around 72 million liters per day.  

Iran’s Oil Minister Bijan Zangeneh had previously announced that the country would need no more gasoline imports next year once a major refinery - Persian Gulf Star Refinery – becomes operational.

Iran is building the Persian Gulf Star Refinery in the southern energy hub of Assalouyeh at an estimated cost of €2.5 billion. The plant is further expected to produce about 43 million liters per day of gas condensates on top of jet fuel and other products. 


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