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Iran Raises Fuel Prices Amid Soaring Inflation and Subsidy Cuts

12/18/2025

47 10 Full Breakdown

Summary

Story summary

Iran has implemented its first fuel price hike since 2019, effective December 13, at 15,000 rials per liter for the first 60 liters.
Prices rise for higher consumption, as the government seeks to cut fuel subsidies totaling nearly $50 billion annually.
Inflation nears 40%, while costly gasoline imports contribute to economic pressure.
Iran's oil production remains robust, with exports primarily to China despite U.S. sanctions.

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Story summary

Iran has implemented its first fuel price hike since 2019, effective December 13, at 15,000 rials per liter for the first 60 liters.
Prices rise for higher consumption, as the government seeks to cut fuel subsidies totaling nearly $50 billion annually.
Inflation nears 40%, while costly gasoline imports contribute to economic pressure.
Iran's oil production remains robust, with exports primarily to China despite U.S. sanctions.