Iran scraps fuel subsidies and raises prices, Islamic Republic News Agency reports
The government of Iran has eliminated fuel subsidies and increased fuel prices for consumers, according to a statement issued in Teheran on May 25 by the country’s news agency IRNA which explained that the authorities aim is that of unifying petrol and gasoil prices.
“As of Tuesday midnight, one liter of regular gasoline will sell at 10,000 rials and one liter of premium gasoline at 12,000 rials,” spokesman for National Iranian Oil Products Distribution Company (NIOPDC) Davoud Arab-Ali said, as reported by Irna.
One US dollar is traded for nearly 29,000 rials officially and for around 33,000 rials on open market, the statement added.
