Iran able to export up to 30mn liters of gasoline p/d: official

TEHRAN, Dec. 07 (MNA) – The Spokesperson of the Iranian Oil, Gas and Petrochemical Products Exporters' Union announced on Saturday that the country has the possibility to export 25 million to 30 million liters of gasoline per day following the implementation of gasoline rationing scheme.

According to Hamid Hosseini, having the said amount of gasoline exported daily, Iran can earn three billion to four billion dollars.

Expressing content about the made oil and oil products offerings at the country’s energy stock market (known as IRENEX), he added that Iran’s exports of such products is warmly welcomed by its neighbor countries.

“Presently, Iran produces 115 million liters of gasoline and as predicted, by implementing the rationing scheme, the country will have an excess of 30 million liters of gasoline per day, which can be exported,” Hosseini added.

On November 13, the Iranian government started rationing of subsidized gasoline and increased fuel prices as it plans to use the revenue for supporting underprivileged families.

According to a statement published by National Iranian Oil Products Distribution Company, the price for a liter of regular gasoline was increased to 15,000 rials (nearly 35 cents at the official rate of 42,000 rials per dollar) from 10,000 rials and the monthly ration for each passenger car was set at 60 liters. Additional purchases would cost 30,000 rials per liter.

Due to heavy subsidies and devaluation of its currency, Iran has one of the cheapest fuel prices in the world and the country has been fighting rampant fuel smuggling to neighboring countries.

In one of its latest reports dubbed “World Energy Outlook 2018”, the International Energy Agency (IEA) put Iran on top of the list of the world’s countries for energy subsidies. That means Iran holds the first place among the world’s countries in terms of the volume of subsidies which is allocated to energy consumption.

On November 26, Oil Ministry announced that after the implementation of gasoline rationing scheme, consumption has decreased by 19 million liters per day in Iran.

MNA/4791221

News Code 153132

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