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Iran Fuel Consumption Declines: Official

Service : Economy
TEHRAN, March 16 (ICANA) – National Iranian Oil Products Distribution Company (NIOPD) has announced that fuel consumption has decreased throughout the country since the implementation of the subsidy reform law.
Wednesday, March 16, 2011 11:23:36 AM
Iran Fuel Consumption Declines: Official

NIOPD Managing Director Farid Ameri said on Tuesday that Iran has saved $1.8 billion in fuel consumption since December 19, 2010 when the Iranian government lifted energy subsidies, the Oil Ministry's official website Shana reported.

The official went on to say that the daily gasoline consumption of the county reduced to 54 million liters from the previous figure of 61 million liters, indicating a reduction of about 7 million liters, compared to the corresponding period of a year earlier.

The subsidy reform plan allows the Iranian government to gradually slash subsidies on fuel, electricity, and certain goods over the course of five years, with low-income families being compensated with direct cash handouts.

The country's economic reform plan is one of the most important undertakings in Iran's recent economic history.

Earlier in the day, Iran's Deputy Oil Minister Alireza Zeighami said the country will increase its gasoline exports in the next Iranian calendar year, which begins on March 21.

In February, Iranian Oil Minister Massoud Mirkazemi announced that Iran has become self-sufficient in the production of gasoline through the launch of new projects in its oil refineries.

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