Shafaq News- Tehran
Iran will double the price ofunsubsidized gasoline to 10,000 tomans ($0.0476) per liter, while keeping itstwo subsidized fuel prices unchanged, government spokesperson FatemehMohajerani said on Sunday.
The government chose the new priceafter considering several options in technical meetings, with the change set totake effect next Tuesday. The first 60 liters available through government fuelcards will remain at 1,500 tomans per liter ($0.0071), and the next 50 litersat 3,000 tomans per liter ($0.0143).
“Revenue from the higher third-tierprice will be directed toward improving living conditions for citizens,” sheadded.
Iran still has one of the world'scheapest gasoline prices. As of August 24, DailyFuels ranked Iransecond-cheapest among 133 countries surveyed and the cheapest in the MiddleEast, at roughly $0.029 per liter, about 98% below the global average.
The price increase comes as Iran,one of the world's largest oil producers, faces a gasoline shortage that hasworsened during the nearly seven-month US-Iran war. On August 24, the USTreasury unveiled Operation Economic Outcast, targeting Iranian oil-smugglingnetworks, sanctions evasion and the financing of activities Washingtondesignates as terrorism. Treasury Secretary Scott Bessent pledged to cut offTehran's remaining economic lifelines and warned that entities helping Iranevade sanctions could face secondary sanctions or lose access to the USfinancial system.
10 rials = 1 toman.
Read more: After Washington’s warning: What’s next for Baghdad–Tehran economic ties?
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