Iran increases gasoline prices

Photo: Iran increases gasoline prices / Oil&Gas

Tehran, Iran, April 25

By Milad Fashtami - Trend:

Iran increased the prices of semi-subsidized and free market gasoline as part of the implementing the second phase of subsidy reform plan.

National Iranian Oil Refining and Distribution Company (NIORDC) announced on April 24 that as of midnight (April 25) semi-subsidized gasoline will be presented at 7,000 rials, while the free market price will stand at 10,000 rials, Iran's Mehr News Agency reported.

Semi-subsidized gasoline was previously sold at 4,000 rials (33 cents), while the free market gasoline price was 7,000 rials.

Iranians with cars will receive a monthly allowance of 60 liters with the semi-subsidized price and have to pay the free market price for larger volumes.

Based on the new prices, semi-subsidized super gasoline and free market super gasoline will also be presented at 8,000, and 11,000 rials, respectively.

According to NIORDC, diesel oil will be sold at 2,500 rials, while CNG will be presented at 4,500 rials per cubic meters.

Iranian Oil Minister Bijan Namdar Zanganeh said on April 23 that the quality of gasoline would be increased in the next [Iranian calendar] year (to start March 21, 2015).

According to the government, Iranians who still have some semi-subsidized gasoline quota in their cards, can use their stored allowance with the previous price (4,000 rials) until further notice.

USD rate in Iran's open market is about 32,000 rials, but official USD rate is 25,511 rials.

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