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Subsidy reform saves Iran $1b in energy costs

Iran Materials 5 January 2011 10:21

Iran has saved over $1 billion in energy costs in the 15-day period since the start of the subsidy reform plan.

Statistics from the National Iranian Oil Products Distribution Company indicate that gasoline consumption in the country declined about three million liters a day which is 4.5 percent less than the same period the year before.

About 59.1 million liters of gasoline has been consumed per day during this time.

Diesel oil consumption in the period has declined 28 percent on average compared to the last year, reaching 80.3 million liters a day.

Diesel oil consumption has reduced 31.7 million liters per day since the subsidy reform plan went into effect on December 19.

The subsidy reform plan is the largest economic plan the country has ever started.

"The country's wealth and energy belongs to the people, and the optimal situation will be created when people participate in the management of the national wealth and the country's affairs," he added.

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