Iran Doubles Petrol Price for High-Consumption Users Amid Economic Crisis

Kathmandu. Amidst an economic crisis, Iran has doubled the price for consumers who consume excessive petrol. The new rate, effective from Tuesday, is the second price hike since last December. Those who purchase more than the monthly quota of 110 liters will now have to pay one hundred thousand rials per liter. The government has stated that the additional revenue from the price increase will be provided to households.

Although the price of petrol in Iran is still among the lowest in the world, the weakening currency and declining purchasing power have put additional pressure on the general public. Keramat Veys Karami, the chief executive of the state oil distribution company, stated that the new price will affect approximately 15 percent of consumers.