Iran Raises Gas Prices to Their Own Population
This should be interesting. Iran has just raised its own gas prices within its own country 25%. Welcome to the club of high gas prices guys! You can read the full article here.
"Despite the hike, gasoline is still far cheaper in Iran than in most of the West. In the U.S., the average price of self-serve regular gasoline hit a record high of $3.18 a gallon, up more than 11 cents over the past two weeks, according to a survey released Sunday."
What the article doesn't tell us and I for one would love to know is how much is gas there. $.25 a gallon? The reason Iran has to raise gas prices is that although it is an oil rich county, it does not refine most of its own gas and has to rely on suppliers to that. This is just another consequence of government policy that oil refiner producers and suppliers want to steer clear of any Iranian activity and the fear of international investment in Iran.
So a 25% increase. That may still bite for Iranians, but most likely not to the degree that we in the west are held hostage by oil suppliers like Saudi Arabia and Iran.
"Despite the hike, gasoline is still far cheaper in Iran than in most of the West. In the U.S., the average price of self-serve regular gasoline hit a record high of $3.18 a gallon, up more than 11 cents over the past two weeks, according to a survey released Sunday."
What the article doesn't tell us and I for one would love to know is how much is gas there. $.25 a gallon? The reason Iran has to raise gas prices is that although it is an oil rich county, it does not refine most of its own gas and has to rely on suppliers to that. This is just another consequence of government policy that oil refiner producers and suppliers want to steer clear of any Iranian activity and the fear of international investment in Iran.
So a 25% increase. That may still bite for Iranians, but most likely not to the degree that we in the west are held hostage by oil suppliers like Saudi Arabia and Iran.
