Iran 's gasoline production capacity will reach 80 million liters per day by the end of the current calendar year (March 20, 2012), oil minister said here on Monday.
Masoud Mirkazemi added that some 23 to 27 million liters would be added to the nation's gasoline production capacity in the current year.
The country's gasoline production output currently stands at 54.5 million liters per day.
The National Iranian Oil Refining and Distribution Company (NIORDC) has said the average Iranian gasoline consumption has declined to 61.1 million liters per day.
The daily gasoline consumption of the country stood at 61.1 million liters at the end of the previous Iranian calendar year (March 21, 2010 to March 19, 2011), reflecting a 3.5-million-liter reduction compared with the corresponding period in its preceding year, Press TV reported.
NIORDC Managing Director Farid Ameri said that Iran has saved $1.8 billion in fuel consumption since December 19, 2010 when the Iranian government lifted energy subsidies.
The subsidy reform plan allows the Iranian government to gradually slash subsidies on fuel, electricity, and other certain consumer goods over the course of five years while the low-income families get compensated with direct cash handouts.
Iran exported its first domestically produced gasoline to Iraq in September 2010. The country stopped the export of petrochemical products following the implementation of a crash program to boost gasoline production in domestic petrochemical units.
The managing director of the National Iranian Oil Products Refining and Distribution Company, Alireza Zeighami, said in August 2010 that if the gasoline rationing plan was not implemented the consumption figure would increase 100 to 120 million liters a day.