Gas prices revised, up 15 percent

TEHRAN May 26(Shana)–The National Iranian Gas Company (NIGC) has revised in natural gas prices for delivery to household and commercial sectors as well as state-owned institutions while it has decided to keep the prices unchanged for delivery to industries, petrochemical plants, power plants and the agricultural sector.

Managing director of NIGC Hamidreza Araqi announced the decision during a news conference held here today, adding the company will charge new tariffs as of Wednesday. NIGC has raised gas tariffs by 15 percent for educational centers,  households, and commercial and state-owned institutions.

According to him, the company has raised gas tariffs by 15 percent for sport and educational institutions as well so that they should pay 920 IR rial [per cubic meter] as of Wednesday instead of 800 IR rials that was the price for last year.

Traditional bakeries in commercial sector have been excluded from rising prices, he said.

Meanwhile, NIOPDC, another subsidiary of Petroleum Ministry, put an end to subsidized gasoline rationing system to unify the petrol and gasoil prices.

“As of Tuesday midnight, each liter of regular gasoline will sell at IRR 10,000 and each liter of premium gasoline at IRR 12,000,” spokesman for National Iranian Oil Products Distribution Company (NIOPDC) Davoud Arab-Ali said.

Each dollar is traded for nearly IRR 29,000 officially and for around IRR 33,000 on open market.

Davoud Arab-Ali said gasoil will also sell at IRR 3,000 a liter in Iran, adding that kerosene will sell at IRR 1,500 a liter and liquefied gas at IRR 2,300 per kilogram.

Jet fuel price will soar to IRR 6,000 a liter while compressed natural gas (CNG) will be charged at IRR 4,000 per cubic meter.

Arab-Ali said the quota remaining in smart cards of car owners would be valid until September.