Iran Raises Domestic Product Prices
The Iranian Government has raised the price of domesticpetroleum products, effective 5 April, in line with a 1994 Majlis (parliament) decree toreduce subsidies on fuels during the country's second five-year plan (1995-1999). Thegovernment subsidy on oil products is estimated at around $10bn annually. About 1.2mn b/dof Iran's 3.6mn b/d output is refined and consumed internally. With regard to price rises,super (regular and...