Gasoline price hike, a budget requirement

TEHRAN May 31(Shana)–A deputy governor of Central Bank of Iran has said that the recent increase in fuel prices was required by the annual budget bill.

Akbar Komeijani said the lawmakers had approved the articles on fuel price hike envisaged in the budget bill.
He, however, said the fuel price hike would not much influence the inflation rate in the country.

The Iranian government recently scrapped subsidized gasoline rationing system to unify the petrol and gasoil prices.
Each liter of regular gasoline now sells at IRR 10,000 and each liter of premium gasoline at IRR 12,000/

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

By SHANA