Report: Iran to cut another portion of gasoline subsidies

Iran’s state news agency is reporting the Islamic Republic will raise gasoline prices by some 40 percent as a result of cutting subsidies. The IRNA report Monday said the new prices will take effect Tuesday morning. While previous attempts to raise prices have sparked dissent, last year’s increase saw no major unrest. IRNA said the price per liter for subsidized gasoline would be 10,000 rials (34 cents), up from 7,000 rials (24 cents). That’s about a $1.28 gallon, compared to the average US price of $2.66 a gallon. Diesel fuel prices also will rise to 3,000 rials (9 cents) per liter.

via ynetnews.com

Source: http://www.ynetnews.com/articles/0,7340,L-4660893,00.html

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