Iran General NewsIran to halt gasoline imports, impose rationing

Iran to halt gasoline imports, impose rationing

-

Reuters: Iran will halt gasoline imports from Sept. 23 and start rationing gasoline supplies to motorists because of budget constraints, Iranian Oil Minister Kazem Vaziri-Hamaneh said on Friday. By Christian Oliver

TEHRAN, June 23 (Reuters) – Iran will halt gasoline imports from Sept. 23 and start rationing gasoline supplies to motorists because of budget constraints, Iranian Oil Minister Kazem Vaziri-Hamaneh said on Friday.

Parliamentarians in the OPEC producer approved a budget for the year to March 2007 that cut the amount to be spent on gasoline imports to $2.5 billion from $4 billion.

This meant President Mahmoud Ahmadinejad’s populist government, which draws its support from the poor, was faced with an unappetising choice of hiking petrol prices or rationing, both potential sources of social discontent.

“Next week will be time to decide when we start rationing. Because there is no budget for importing gasoline in the second half of the year, naturally imports will be stopped and gasoline will be supplied by rationing,” he said on state television.

“With 99 percent certainty there is going to be no dual pricing system, just rationing.”

Despite being the second biggest producer in the Organization of the Petroleum Exporting Countries, Iran has relied heavily on gasoline imports for many years.

It lacks refining capacity after directing most of its oil revenues into social spending. It now imports more than 40 percent of its 70 million litres per day (440,000 barrels per day) of gasoline consumption.

Most of this comes from western Europe, with trading house Vitol the leading supplier, market sources said. India has also featured as a key exporter, at times supplying up to 25,000 bpd.

Latest news

Iran, the Resurrection of the Concept of ‘Revolution’

These days, Iran’s political and social environment has witnessed massive storms, which have changed the meaning of all concepts....

Iran Regime’s Response to Protests Censorship and Violence

The Iranian regime’s leadership has reacted to the ongoing wave of protests over the death of Mahsa Amini, the...

Iran’s New Generation Seeks Nothing but Regime Change

In a silly and desperate statement, the Iranian regime’s foreign minister Hossein Amir-Abdollahian claimed that nothing special is going...

Iran’s Youths Broke the Spell of Fear

One of the main characteristics of the recent protests in Iran is the courage and fearlessness of the people,...

Iran Is on the Brink of a Revolution

The wall of fear has been broken. In many cities across Iran, women are taking to the streets, leading...

Iran’s Regime Claims To Fill Global Energy Gap Despite Crippled Petroleum Sector

In recent weeks, the Iranian regime’s officials have been constantly exaggerating their huge capacity in oil and gas reserves...

Must read

Student arrested by Iran’s secret police

Iran Focus: Tehran, Iran, Apr. 23 - A student...

Iran’s Rafsanjani: Gulf nations must unite to expel U.S.

Iran Focus: Tehran, Iran, May. 02 – Iran’s former...

You might also likeRELATED
Recommended to you