Rise in Retail Prices Since Gas Price Hike

The prices of 52% of 100 high-demand consumer goods have registered an increase of 1-4% in the past nine days, Industries Minister Reza Rahmani said on Tuesday.

Referring to the impact of gasoline rationing and price hike on the prices of staples, the official added that market regulation oversight has increased since a rise in gas prices was introduced last week “to prevent unreal hikes in retail prices that are mostly due to psychological factors”

On Nov. 15, the National Iranian Oil Products Distribution Company announced that gasoline has been rationed and prices raised by 50-200%.

“Private car owners can buy 60 liters of subsidized gasoline every month with a fuel card for 15,000 rials [12 cents] per liter, up 50%. Additional purchases [maximum 250 liters a month] will cost 30,000 rials [24 cents] per liter, up 200%,” NIOPDC said.