The number of passengers using road-based public transport services has increased to 100 million in the nine Iranian months ending Dec. 21 from 92 million during last year’s corresponding period, says an official with Iran Road Maintenance and Transportation Organization.
Dariush Baqer-Javan added that this is mostly because of the rise in gasoline price since mid-November.
On Nov. 15, the National Iranian Oil Products Distribution Company announced that gasoline has been rationed and prices raised by at least 50-200%.
Since then, private car owners can buy 60 liters of subsidized gasoline every month with a fuel card at 15,000 rials (10 cents) per liter, up 50%. Additional purchases (maximum 250 liters a month) will cost 30,000 rials (21 cents) per liter, up 200%.
Iran is at present producing 85% of its needs to oil industry equipment despite the harshest-ever sanctions imposed against the country by Washington, an official said.
And although the broad commodity market finished up 17.6% on the year, the performances of individual commodities were all over the map. For those familiar with the sector, that’s pretty much par for the course.
Oil slipped towards $65 a barrel on Friday as the threat of war in the Middle East receded and investors focused on rising US inventories and other signs of ample supply.
The United Arab Emirates’ energy minister said on Wednesday he saw no immediate risk to oil passing through the vital gateway of the Strait of Hormuz after Iran attacked bases housing US forces in Iraq.
Malaysia's only styrene monomer (SM) producer, Idemitsu Styrene Monomer (ISM), has reduced operating rates by 10pc at its 241,000 t/yr unit this month because of negative production margins.
Chinese government officials will visit Washington next week to sign a "phase one" trade deal with the US, China's commerce ministry said today.