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Iran increases high-tier gasoline prices
Iran increased the fuel price for the highest consumption bracket starting September 8. The price of the third tier was raised to 10,000 Tomans per liter, while the prices of the first and second tiers remained unchanged. This comes amid a record decline in the value of the Iranian rial, which has fallen to about 2.2 million rials against the dollar in the black market, compared to approximately 1.7 million before the outbreak of the war in February. This move is part of the broader tightening of U.S. sanctions on Iran, one of the world's largest oil producers. Despite the deteriorating national currency and increasing economic pressures, the government continues to heavily subsidize fuel prices.
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