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4 comments

[–] ScorpioGlitch 2 points (+2|-0) Edited

Petrol in the country still remains among the cheapest in the world, with the new prices jumping up to a minimum of 15,000 rials per litre of gas – 50 per cent up from the day before. That’s 13 cents a litre, or about 50 cents a gallon

50 CENTS. a gallon.

By the way, tell me again how it is that oil is getting scarce? Because if they're paying a normal rate of 25 cents a gallon, there either aren't very many drivers over there or there's more oil than people are letting on.

[–] smallpond 0 points (+0|-0)

Iran relies heavily on automobiles, but obviously cannot pay western prices for fuel due to relative poverty. Whether "50 CENTS. a gallon" (increasing to about $1 per gallon for more than 60 litres per month) seems cheap to you is obviously irrelevant.

The prices hikes are a bit bizarre, as social unrest is almost guaranteed, but I suppose murdering a bunch of desperate citizens is worth squeezing that little bit of profit out of the domestic market.