Fuel Prices Iran
Part of: GIZ International Fuel Price database
Also see: Iran Energy Situation
Fuel Pricing Policies
| Local Currency: | IRR |
| Exchange Rate: | 10355
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| Last Update: |
Currently, Iran operates a quota two-tier price system. Under this rationing scheme, introduced in 2007, a motorist can buy 60 litres of subsidised fuel per month for around $0.11 per litre, and beyond that amount they have to pay a “semi-subsidised” price of approx. $0.4. Taxi drivers are allowed a higher subsidized ration per month.
Plans to drastically reduce spending on energy subsidies were approved by Parliament and signed into law in January 2010. The law does not specify the price increases for the first year, but states the medium-term objective of the quasi-elimination of subsidies on par with the international f.o.b. price. Furthermore, it has a revenue target in the first year of $20 billion. Since December 2010 motorists receive 60 litres of fuel per month at a subsidised price of 40 cents per litre, up from 10 cents per litre.
The decision to remove subsidies comes as pressure from recent UN security council sanctions targeted at Iran’s nuclear program are making it increasingly difficult for Iran to secure its refined oil needs. Despite its huge energy reserves, Iran lacks refining capacity and imports a significant amount of its petroleum product needs. This led to media reports - denied by officials - of gasoline shortages and scattered reports of long fuel lines.
Status as of: 19.12.2010
Fuel Prices and Trends
| Gasoline 95 Octane | Diesel | |
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* benchmark lines: green=US price; grey=price in Spain; red=price of Crude Oil
Fuel Price Composition
Price composition.
No information available.
At a Glance
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Sources to the Public
| Type of Information | Web-Link / Source |
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| Other Information | http://www.imf.org/external/pubs/ft/survey/so/2010/int092810a.htm |
Contact
Please find more information on GIZ International Fuel Price Database and http://www.giz.de/fuelprices
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