EghtesadOnline: The government will weigh up offering earnings from higher gasoline prices to people only after monitoring their bank accounts, Ahmad Meydari, deputy minister of cooperatives, labor and social welfare, announced.
EghtesadOnline: Friend and foe have been trying hard to figure out what happened and why in the eight days after the government decided to cut fuel subsidies, sending gasoline prices to levels unseen in Iran ever since oil was discovered more than a century ago.
EghtesadOnline: Underprivileged provinces will receive bigger shares from the government’s fresh cash subsidy as compensation for the recent hike in gasoline prices, known as the Livelihood Assistance Program.
EghtesadOnline: Following the abrupt government decision to raise gasoline prices and sell it at two rates from November 15, consumption fell by at least 20% over a 10-day period, the National Iranian Oil Products Distribution Company (NIOPDC) announced Tuesday.
EghtesadOnline: So long as state-run automakers keep manufacturing low-quality vehicles, the people will be the main victims who have to face the economic burden stemming from the unprecedented rise in gasoline prices, a former head of the Iranian Fuel Conservation Company said.
EghtesadOnline: The latest rationing and doubling of gasoline prices that started out of the blue last Friday (Nov. 15) will annually generate up to $5.5 billion in export revenue for the government, a board member of the Iranian Oil, Gas and Petrochemical Products Exporters’ Association said.
EghtesadOnline: Senior economic analyst Saeed Laylaz says there is no scientific evidence that the rise in gasoline prices would definitely have an inflationary impact.
EghtesadOnline: The highest monthly growth in the Consumer Price Index among 12 groups of consumer goods and services purchased by households in the Iranian month ending Nov. 21 was recorded for “transportation” with 5.4%, which must be blamed on the rise in gasoline prices implemented on Nov. 15.
EghtesadOnline: The decision to sell gasoline at two rates is a breeding ground for corruption, head of the Iran Gas Station Owners Union’s board of trustees said.
EghtesadOnline: Following the government last week to raise gasoline prices by 200%, compressed natural gas consumption has risen by 2 million cubic meters a day since Nov. 15, head of CNG department at the state-run National Iranian Oil Products Distribution Company said.