Iran’s Ministry of Oil has announced prices increases for both gasoline and natural gas beginning next month.

Energy prices

Parsineh reports that the price of gas for residential, commercial, institutional and agricultural usage will rise by 10 to 20 percent compared to last year.

Earlier this month, the ministry’s application to increase the price of gasoline was approved, so there is now a single official price for gasoline: 1,000 toumans a litre.

There will be no more gasoline quotas and the uniform price of 1,000 toumans a litre will be charged all across the country.

The rise in the price of gasoline and natural gas will undoubtedly have an adverse effect on factories and production units that are already strained for cash, and that could lead to widespread plant closures and worker layoffs.