No 18



Iranian Parliament Approves Steep Rise In Gasoline Prices As Of March 2005

The Iranian parliament on 27 April approved a proposal to raise the heavily subsidized gasoline prices from the current IR800 ($0.093) a liter to IR2,000 ($0.23) a liter, under the fourth five-year development plan which is due to start in March 2005. The steep rise in prices, which is intended to curb the increase of domestic consumption of products and align prices with those prevailing...