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Iran set to raise fuel prices this week

: Wednesday, April 23 - 2014 @ 10:22

Iranian Vice-President Mohammed Shariatmadari has said the government is to start cutting gasoline subsidies this week, Reuters has reported. “The new gasoline prices will be announced within two or three days,” said Shariatmadari. The amount of the subsidy cut and the corresponding rise in fuel prices has yet to be announced. The move aims to free up government money for infrastructure investment, reducing state borrowing from banks so they can lend more to the private sector, and to encourage energy efficiency.

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Wednesday, April 23- 2014 @ 10:22 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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