Iran has rolled out a test vending of imported premium at market price in Tehran to address the country's domestic petroleum consumption deficit.
The middle eastern country is offering the high-octane fuel at a price much higher than country's newly announced three-tier subsidised pricing system.
Petroleum Minister Mohsen Paknejad said on Thursday that private companies will offer super gasoline outside petrol stations on mobile fuel trucks, selling it at market price exceeding the country's cut-rate prices.
“The pilot sale intends to assess consumers’ demand and their response to price,” Paknejad said while speaking on state TV.
The price of imported super gasoline is 800,000 rials per liter, equivalent to US dollars 0.59 at the market exchange rate of 1,350,000 rials per dollar on Thursday.
According to the Minister, the initial offering was implemented through five fuel vehicles in capital Tehran on a pilot basis and up to 17 firms were granted permits to import super gasoline.
Their entry to the market depends on the outcome of this trial phase and consumer acceptance of the final price, he added.
Referring to purchase price and logistic issues as the factors determining the cost of imported premium fuel, he said the new price will be strictly monitored by the Ministry of Petroleum to prevent profiteering.
Earlier in the month, Iran introduced a new three-tier pricing system for subsidised gasoline, marking the country’s first fuel price adjustment since 2019.
Under the newly revised scheme, motorists can purchase up to 60 liters per month at the lowest subsidized rate of 15,000 rials. An additional 100 liters is available at a higher price at 30,000. Any refueling beyond 160 liters is charged at a new top rate of 50,000 rials per liter -- about 4 cents.
Despite the changes, gasoline prices in Iran remain among the lowest in the world.
This latest move is aimed at increasing fuel prices incrementally and curb rising consumption simultaneously amid ongoing sanctions which have hit income of the people and government’s revenues.
The U.S. and Israeli air war against Iran widened on Monday, with no end in sight as Israel atta...
The Israeli military has begun a new wave of strikes on Tehran, it said late on Monday. The strikes came after it issued...
Iran and its proxies could target the U.S. with attacks in response to the Saturday killing of Iranian...
The U.S. embassy in Riyadh was hit by two drones resulting in a limited fire and some material damage...
Israeli Prime Minister Benjamin Netanyahu said on Monday that the U.S. and Israel's war against&...
The U.S. and Israeli air war against Iran widened on Monday, with no end in sight as Israel attacked Lebanon in response to strikes by Hezbollah and Iran kept up its attacks on Gulf states that host U.S. military bases.
Iran and its proxies could target the U.S. with attacks in response to the Saturday killing of Iranian Supreme Leader Ali Khamenei by Israeli and U.S. strikes, according to a U.S. intelligence assessment reviewed by Reuters.
The U.S. embassy in Riyadh was hit by two drones resulting in a limited fire and some material damage, the kingdom's defence ministry said in a post on X on Tuesday, citing an initial assessment.
Israeli Prime Minister Benjamin Netanyahu said on Monday that the U.S. and Israel's war against Iran may take "some time" but it will not take years.
Follow the latest developments and global reaction after the U.S. and Israel launched “major combat operations” in Iran, prompting retaliation from Tehran.
Saudi Arabia’s state oil giant Saudi Aramco closed its Ras Tanura refinery on Monday following an Iranian drone strike, an industry source told Reuters as Tehran retaliated across the Gulf after a U.S.-Israeli attack on Iranian targets over the weekend.
The Kremlin is utilising the recent United States and Israeli military strikes on Iran to validate its ongoing war in Ukraine. Russian officials are pointing to the escalation in the Middle East as evidence that Western nations do not adhere to international rules.
The Middle East crisis intensifies after the deadly attack on the compound of the Supreme Leader of Iran Ali Khamenei on Saturday that killed him, other family members and senior figures. Iran has launched retaliatory strikes on U.S. targets in the region.
Ayatollah Alireza Arafi has moved into a pivotal constitutional role following the death of Supreme Leader Ayatollah Ali Khamenei, becoming the clerical member of Iran’s temporary leadership council under Article 111 of the Constitution of the Islamic Republic of Iran.
The U.S. and Israeli air war against Iran widened on Monday, with no end in sight as Israel attacked Lebanon in response to strikes by Hezbollah and Iran kept up its attacks on Gulf states that host U.S. military bases.
The Israeli military has begun a new wave of strikes on Tehran, it said late on Monday. The strikes came after it issued an evacuation warning for residents in Tehran, particularly those residing near state broadcaster IRIB's headquarters.
Iran and its proxies could target the U.S. with attacks in response to the Saturday killing of Iranian Supreme Leader Ali Khamenei by Israeli and U.S. strikes, according to a U.S. intelligence assessment reviewed by Reuters.
The U.S. embassy in Riyadh was hit by two drones resulting in a limited fire and some material damage, the kingdom's defence ministry said in a post on X on Tuesday, citing an initial assessment.
Israeli Prime Minister Benjamin Netanyahu said on Monday that the U.S. and Israel's war against Iran may take "some time" but it will not take years.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment