Iran to get big profits by reducing gasoline consumption

Oil&Gas Materials 18 June 2020 10:20 (UTC +04:00)
Iran to get big profits by reducing gasoline consumption

BAKU, Azerbaijan, June 18

By Elnur Baghishov –Trend:

Iran will save 12 million liters of gasoline per day while providing 1.4 million cars with dual fuel, Director of CNG Project at the National Iranian Oil Products Distribution Company (NIOPDC) Hamid Ghasemi Dehcheshmeh told Tasnim news agency, Trend reports.

The director emphasized that with saving the funds, Iran can build two Tehran-sized refineries.

Ghasemi Dehcheshmeh added that this amount of savings in gasoline consumption with the alternative use of CNG fuel is a great investment in the industry.

On Nov. 15, 2019, the price of gasoline sold on quota increased from 10,000 rials (23 cents) to 15,000 rials (35 cents) and the price of gasoline sold free from the quota increased to 30,000 rials (71 cents) in Iran.

On December 2, 2019, the Economic Council of Iran, based on a joint proposal of the Ministry of Oil and the Planning and Budget Organization, adopted a decision to reduce transportation costs and imporve environmental protection. According to the decision, 1.46 million taxis, pickups, vans and private passenger cars will be supplied with CNG gas.

During the first stage, the government will spend $570 million for the project, said the report.