Iran raises gasoline prices for top users

Iran raised the price of gasoline for the highest consumption bracket starting from September 8th, as part of a tripartite system to control costs. The price for the third tier increased to 10,000 tomans per liter, while the prices for the first two tiers remained unchanged. This decision comes at a time when the value of the Iranian rial has plummeted to record lows, reaching about 2.2 million rials per dollar in the black market, compared to approximately 1.7 million before the war in the Middle East. This decline is attributed to the intensification of US sanctions on Tehran, including a naval blockade on its ports to reduce oil exports. Raising gasoline prices is one of the government's measures to address economic pressures, despite its ongoing support for fuel prices to keep them among the lowest worldwide.

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