Iran Doubles Petrol Price for High-Consumption Users Amid Economic Crisis
Summary
Iran has doubled petrol prices for high-consumption users as it grapples with a worsening economic crisis and annual inflation of around 67 percent. Officials say the additional revenue will be given to households, while residents fear the move will push up the cost of food and other daily necessities.
Key Points
- Consumers who exceed Iran’s monthly petrol quota of 110 liters will now pay 100,000 rials per liter, effective Tuesday.
- The price change is the second petrol hike since last December and is expected to affect about 15 percent of consumers.
- Officials say the extra revenue will be distributed to households, but experts warn it could add to inflation, already near 67 percent.
- Tehran residents fear the higher fuel cost will raise prices of essentials, recalling the protests sparked by the 2019 petrol hike.
