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Iran plans major rise in price of gas
[Iran Press TV Latest] Iranian Oil Minister Masoud Mirkazemi says the government plans to raise domestic gas prices by nearly tenfold in a bid to reduce consumption. He said the growing domestic gas consumption could lead to a 'crisis' within the next three years, Mehr News Agency reported. "To deal with this problem, we propose to increase the price of gas to at least 900-1,000 rials (about 10 US cents) per cubic meter," Mirkazemi said, adding that this could save up to $17 billion which could be used in developing the country's gas sector. President Mahmoud Ahmadinejad's government plans to eliminate costly subsidies on energy and food over five years. The Iranian Parliament (Majlis) in March passed a budget bill, permitting the government to eliminate $20 billion worth of subsidies -- half of the amount requested by Ahmadinejad. Mirkazemi said that the price of electricity and gasoline should also be increased if there is a rise in domestic gas prices. Iran is the world's third-largest energy consumer after the United States and Russia. Posted by: Fred 2010-04-13 |
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