TEHRAN, June 27 (UPI) -- Gasoline rationing was introduced in Iran on Wednesday despite the country's status as the second highest OPEC crude oil producer.
Iran has a huge crude reserve but minimal refining capacity and therefore imports about 40 percent of its refined gasoline, Alalam Satellite TV reported from Tehran.
Gasoline is heavily subsidized in Iran and even after Tehran imposed a 25 percent price hike, the price was raised to 11 cents a liter -- roughly 44 cents a gallon, the report said.
In a statement on state television, the Oil Ministry said private cars would be rationed to about 25 gallons of gas per month, while licensed taxis would be eligible for 200 gallons.
There was no indication given as to how long the rationing would remain in effect.
