Iran hikes fuel prices above 110 liters

The Iranian government announced that starting from today, Tuesday, the price of gasoline will be increased for consumers who use more than 110 liters per month, in an attempt to address the economic conditions affected by the war and U.S. sanctions. The price of the first two quotas, which contain 110 liters, will remain fixed, but the price of the third quota will be raised to 100,000 rials (approximately 4 cents). The decision to raise the price had been postponed earlier due to concerns over protests similar to those Iran witnessed in 2019. This measure follows previous discussions about increasing fuel prices, which are among the lowest in the world, amidst difficult economic circumstances.

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