Iran’s kerosene consumption declines
Azerbaijan , Baku, Feb. 28 /Trend, A.Yusifzade /
The National Iranian Oil Products Distribution Company (NIOPDC) reported that overall kerosene consumption in Iran during the current Iranian calendar week ending Feb. 25 stood at 105.9 million liters, or down by 29.5 percent compared to a week earlier which started Feb. 12, 2011, Shana reported.
According to the Iranian governmental news website, the price of kerosene increased to 9.6 cents per 1 liter in December, 2010.
The government plans to gradually cut energy subsidies over five years. It has promised to compensate low income families with direct cash handouts.
Supporters of the plan said that it is in line with global financial organizations' recommendations that Iran will get rid of heavily subsidized economy if it wants to solve its economic problems. But, some analysts have criticized the plan, saying that it could trigger a hike in prices and stoke up inflation in the country.