Tuesday, 02 January 2024 12:17 GMT

Iran Set To Hike Gasoline Prices For Extra Fuel Consumption


(MENAFN- Trend News Agency) BAKU, Azerbaijan, December 2.​ The price of gasoline for additional consumption beyond the standard allocation for car owners in Iran will rise to 50,000 rials (about $0.8) per liter, Iranian spokesperson Fatemeh Mohajerani said today at a press conference in Tehran, Trend reports.

According to Mohajerani, each car-owning citizen is allocated 60 liters per month at a rate of 15,000 rials (about $0.2) per liter, with an additional 1 liter priced at 30,000 rials (about $0.5). Those who wish to consume more than this allocation will need to pay 50,000 rials (about $0.8) per liter.

She added that citizens with multiple vehicles will be issued fuel cards valid for only one car.

The government is taking serious measures to promote the use of public transport and reduce air pollution. Mohajerani noted that all revenue generated from the increase in gasoline prices will be fully directed toward improving citizens' living standards.

Meanwhile, Iran's gasoline production capacity is around 110 million liters per day, while daily consumption reaches 133 million liters under normal conditions and peaks at 167 million liters during holidays and other high-demand periods. This shortfall leads Iran to spend around $6 billion annually on gasoline imports.

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Trend News Agency

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