As fuel prices rise again, Iran’s government urges citizens to cut back
New fuel pricing targets consumption above 110 litres monthly, doubling costs to 100,000 riyals per litre.
Iran has raised petrol prices for motorists again as the government struggles to manage declining revenues and sustain a costly subsidy regime.
The price of petrol will remain the same for the first 110L (29 gallons), state media reported. Prices will double from 50,000 rials to 100,000 rials per litre for motorists who consume beyond this.
Iran has some of the lowest petrol prices in the world, but due to ongoing economic difficulties amid the war with the US, including punishing sanctions and a siege on Iranian ports by US forces, Iranian officials have for months considered adjusting fuel subsidies to make up for lost revenues.
Iran has been consuming more oil than it produces domestically or match pre-war production or export levels.