Iran to import high-octane gasoline at unsubsidized rates
The Iranian government has given the green light for the import of high-octane (premium) gasoline at unsubsidized prices.
The government said the companies which have the license from the country’s Oil Ministry are authorized to import the high-octane gasoline.
The premium gasoline price is estimated at 600,000-800,000 rials ($0.9-$1.2) while heavily subsidized regular gasoline is sold at 15,000 rials ($0.022) under rationing system.
The Iranian government offers one of the cheapest gasoline fuels in the world, at less than 10 US cents per gallon, according to a policy of subsidizing essential commodities for the public.
The new directive comes as Iran is facing a daily shortage of around 15 million liters in gasoline supplies. Since 2021, the government has been forced to import vehicle fuel to make up for the deficit. So far this year, Iran has reportedly spent $3 billion to bring in gasoline.
Iran’s government has repeatedly said that it has no plans to increase the fuel prices next year.