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FinancialNews


  • 28-11-19

    Iran: fuel consumption down due to gas price hikes

    (MENAFN) The government policy of gasoline rationing and price hikes this month has reduced fuel use by about 20 million liters per day, oil Minister Bijan Namdar Zanganeh said.

    According to Zanganeh's announcement on Wednesday after attending a cabinet session more than 70 lawmakers had signed an impeachment motion against him.

    In September, Zanganeh said Iranian gasoline production stood at 105 million liters per day, or around 660,000 barrels per day (bpd), while consumption was around 100,000 bpd.

    For the first time Iran exported gasoline this year, but cheap pump prices have Iranian officials expecting new record demand at a time when the country is grappling with the most restrictive US sanctions.

    MENAFN2811201900450000ID1099339291

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