Thursday, January 27, 2011

Iran halts production of gasoline at petrochem plants on reduction of fuel subsidies

Iran has halted production of gasoline at petrochemical plants after a reduction by the Government in fuel subsidies that led prices to quadruple and consumption to fall, as per Bloomberg. Iranians noow pay 4,000 rials (40 cents) a liter of gasoline for up to 50 liters a month, and 7,000 rials a liter for larger quantities.

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