Fuel Prices Iran

From energypedia
Revision as of 16:44, 14 November 2012 by ***** (***** | *****) (Text replace - "Fuel Price Exchanre Rate Date" to "Fuel Price Exchange Rate Date")
(diff) ← Older revision | Latest revision (diff) | Newer revision → (diff)

Part of: GIZ International Fuel Price database
Also see: Iran Energy Situation

Fuel Pricing Policies

Local Currency: IRR
Exchange Rate: 10355


(2010/11/15)

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
in USD*

in Local Currency

* 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

Regulation-Price-Matrix
Transparency of
Price Composition
Transparency of Pricing
Mechanism / Monitoring
IFPDB matrix background.png
IFPDB matrix point.png
IFPDB trafficlight red.png IFPDB trafficlight explanation.png IFPDB trafficlight red.png



Sources to the Public

Type of Information Web-Link / Source
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

This is a living document. If you have any comments or suggestions, please feel free to contact us: Armin.Wagner@giz.de