Iran doubles gasoline price amid fears of renewed unrest

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Title : Iran doubles gasoline price amid fears of renewed unrest
Link : Iran doubles gasoline price amid fears of renewed unrest

Iran will double the price of gasoline bought outside subsidized quotas from Tuesday, pushing ahead with a politically sensitive increase as households struggle with rising prices and the country faces fuel shortages. Government spokesperson Fatemeh Mohajerani said Sunday that the third-tier gasoline price would rise to 10,000 tomans per liter from 5,000 tomans, effective September 8. Monthly subsidized allocations will remain unchanged, with motorists entitled to 60 liters at 1,500 tomans per liter and a further 50 liters at 3,000 tomans.

Mohajerani blamed current conditions and past policies for rising consumption, saying the increase was intended to maintain the balance between supply and demand and strengthen “national resilience.” The decision comes as Iranian households contend with high inflation, a sharply weakened currency and rising costs for basic goods. President Masoud Pezeshkian had signaled the increase in late August but gave no date for its implementation. Since then, Iranians have expressed concern that higher gasoline prices could feed through into transport costs and the prices of other goods.

Shortages add to pressure

The price rise comes amid growing strains on Iran’s gasoline supply. Esmail Saqqab Esfahani, head of Iran’s Energy Optimization Organization, said last month that the country faced a daily gasoline deficit of around 14 million to 15 million liters. The gap between consumption and production predates the war, but fighting and the US blockade have added to the strain, disrupting supplies when domestic production was already failing to keep pace with demand.

Mohajerani said all additional revenue generated by the increase would be spent on supporting household livelihoods, without specifying how the money would be distributed. Hossein Samsami, a member of parliament’s Economic Commission, warned last month that raising gasoline prices under current conditions could be like a “spark in a powder keg.” (Read More)