Iran is to raise petrol prices by 5%

Almaty. February 18. Silkroadnews - Iran expects 5% increase in retail gasoline prices, reported the Iranian News Agency (IrTAG) on Wednesday.
The decision was approved during the session of Parliament as the bill on state budget for 1394 on the new Iranian calendar (from March 21, 2015).
According to the document, the administration has the right to raise the price of a liter of half-subsidized gasoline AI-92 from the current 7 thousand rials to 7 thousand 350 rials (about $0.26 at the official rate). Starting from next year half-subsidized liter of gasoline AI-98 in retail will cost 8 thousand 400 rials ($0.30), instead of 8 thousand.
The prices for non-subsidized gasoline AI-92 and AI-98 will increase from the current 10 thousand and 11 thousand rials per liter to 10 thousand 500 and 11 thousand 550 rials respectively.
The authorities of the Islamic Republic were forced to go on such unpopular among ordinary Iranians step due to the significant reduction in government revenues from oil sales, the price of which from the summer of last year fell by almost half.
According to official data, daily consumed of Iran amounts to 70 million liters of petrol, 5 million liters of which is imported from abroad.