facebook
twitter
rss
account
search
search
 

Iran reduces citizens' gas subsidies

Dec. 19, 2010 at 8:56 AM   |   Comments

| License Photo
TEHRAN, Dec. 19 (UPI) -- Some of Iran's government gasoline subsidies for citizens ended Sunday by presidential order, quadrupling the cost of fuel.

President Mahmoud Ahmadinejad made the announcement on his Web site and said a further 15 percent subsidy to those with private cars would also take effect sometime after Wednesday, The Wall Street Journal reported.

Sunday's new rates mean Iranians will now pay slightly more than $1 for a gallon of gas.

In 2007, to make up for the economic impact caused by U.N. sanctions because of its nuclear program, the government began rationing gasoline and citizens began torching gas stations, the report said.

Extra police were seen on the streets of Tehran Sunday, the Journal said.

An International Monetary Fund noted the average annual income in Iran is $3,600, although "a household of four in Iran gets on average about $4,000 a year in various subsidies on oil and natural gas alone."

© 2010 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Most Popular
1
U.S. airstrikes succeeding in cutting oil financing for Islamic State U.S. airstrikes succeeding in cutting oil financing for Islamic State
2
Russian currency crashes Russian currency crashes
3
Nurse Nina Pham declared free of Ebola, meets President Obama Nurse Nina Pham declared free of Ebola, meets President Obama
4
Ottawa assault: PM went to closet, MPs made spears from flagpoles Ottawa assault: PM went to closet, MPs made spears from flagpoles
5
Hatchet-wielding man shot dead after attacking NYC police officers Hatchet-wielding man shot dead after attacking NYC police officers
Trending News
Around the Web
x
Feedback