Tehran, Iran, January 8
By Mehdi Sepahvand -- Trend:
Gasoline distributed in Iran has become equal in price to the Persian Gulf FOB and the Iranian government is in fact no longer paying any subsidies for it, head of gas station owners syndicate Bijan Haj Mohammad Reza said.
He said the situation came after Iranian crude oil plunged to less than $30 per barrel, Mehr news agency reported January 8.
Fuel prices in Iran are among the cheapest in the world even after the government cancelled offering oil products at subsidized prices in May.
According to the local media, the country imported about 8 million liters of gasoline per day in the first half of the current Iranian fiscal year (started March 21, 2015).
Iran's consumption of gasoline stood at an average of 72 million liters per day over the period of six months. The government has to increase gasoline imports especially after ditching plans to build 13 new oil refineries due to technical and financial issues.
Iran's Oil Minister Bijan Zangeneh has said Iran would need no more gasoline imports next year once a major refinery - Persian Gulf Star Refinery - becomes operational.