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EghtesadOnline: The Iranian government has ratified a new policy for pricing natural gas distributed across the country.

The Cabinet has ordered the National Gas Company to set the price of natural gas at 1,500 rials ($0.04) per cubic meter in the first eight months of the Iranian calendar year (March 20 to November 20), according to ILNA.

This will revoke the incremental system of pricing, whereby customers in the housing, trade and production sectors had to pay more per cubic meter of gas as the volume of consumption rose.

In the incremental system, which according to the new decision will be applied only in the four cold months of the year, each cubic meter of gas will cost 400 rials in the first-stage consumption (the lowest consumption).

For the tenth-stage consumption (the highest level of consumption considered by the law), each cubic meter of gas will cost 4,800 rials.

Iran gas Iran gas pricing