Iran has once again raised gasoline prices as the government struggles to cope with declining revenues and maintain a high subsidy system. According to official media reports, the price of the first 110 liters (29 gallons) of gasoline will remain unchanged. Prices for gasoline exceeding this limit will rise from 50,000 rials per liter to 100,000 rials.
Iran has some of the lowest gasoline prices in the world, but due to the ongoing economic difficulties caused by the war with the United States, including severe sanctions and the US siege of Iranian ports, Iranian officials have been considering adjusting fuel subsidies for months to compensate for lost revenue.
Iranian Parliament Speaker Ghalibaf stated, "If we consume rationally, our country's current gasoline production is sufficient to meet demand. Clearly, we need to conserve gasoline. Of course, part of the responsibility for high gasoline consumption lies not with the public, but with industry."
