Report: Iran raises gas prices by 40 percent in subsidy cut
TEHRAN, Iran — Iran will raise gasoline prices by some 40 percent beginning Tuesday, the country’s official news agency reported, the latest cut to the Islamic Republic’s fuel subsidies that cost it some $32 billion a year. While previous attempts to raise prices have sparked dissent, last year’s increase saw no major unrest. The report Monday by IRNA, quoting Davood Arabali, a spokesman for Iran’s state oil products distribution company, said the new price per liter for subsidized gasoline would be 10,000 rials (34 cents), up from 7,000 ...
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