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FinancialNews


  • 07-11-20

    Iran: Gasoline expenditure drops considerably

    (MENAFN) In mid-November last year, the Iranian government began limiting subsidized gasoline and augmented oil prices as it projects to utilize the income for supporting disadvantaged households.

    According to the Oil Minister Bijan Namdar Zanganeh, limiting utilization and augmenting export ability were the major goals of the gasoline rationing plan.

    After the completion of the rationing plan average daily gasoline expenditure dropped to 75 million liters in December and later the outburst of COVID-19 in early March and April led to even further drop in expenditure so that in some days of April the figure even dropped to about 22 million liters.

    The average daily petrol expenditure since the start of the prior Iranian calendar year (March 21, 2019) up to the completion of the rationing plan on November 15 was about 95 million liters, which hit a 6.1-percent upsurge compared to the average daily consumption for 2019.

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