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Iran parliament ratifies new bill on gasoline prices

Business Materials 12 April 2016 18:40 (UTC +04:00)

Baku, Azerbaijan, April 12

By Khalid Kazimov - Trend:

Iranian parliament members discussing the draft budget for the current fiscal year (started March 20) have passed a new bill on gasoline price.

The new bill offers four different categories for the prices of gasoline. Therefore the process will change for consumers according to their monthly consumption, Mehr news agency reported. According to the report the consumers who burn up to 180 litters of gasoline per month will be charged 10,000 rials (one US dollar makes 30,281 rials, according to Iranian Central Bank on April 12) per litters.

While those who consume between 181 - 220 liters per month will have to pay 15,000 rials, the consumers who need to use between 221-260 liters of gasoline will pay 1,750. The fourth category considers those who burn more than 261 liters of gasoline per month. According to the bill the consumers who buy over 261 litters will be charged 20,000 rials per litter.

According to the bill the drivers will purchase gasoline only through smart cards issued by the government. Iran produced about 59.6 million liters of gasoline per day, while the consumption level was 69.6 million liters during last fiscal year.

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