Shafaq News- Tehran

Iran will double the price of unsubsidized gasoline to 10,000 tomans ($0.0476) per liter, while keeping its two subsidized fuel prices unchanged, government spokesperson Fatemeh Mohajerani said on Sunday.

The government chose the new price after considering several options in technical meetings, with the change set to take effect next Tuesday. The first 60 liters available through government fuel cards will remain at 1,500 tomans per liter ($0.0071), and the next 50 liters at 3,000 tomans per liter ($0.0143).

“Revenue from the higher third-tier price will be directed toward improving living conditions for citizens,” she added.

Iran still has one of the world's cheapest gasoline prices. As of August 24, DailyFuels ranked Iran second-cheapest among 133 countries surveyed and the cheapest in the Middle East, at roughly $0.029 per liter, about 98% below the global average.

The price increase comes as Iran, one of the world's largest oil producers, faces a gasoline shortage that has worsened during the nearly seven-month US-Iran war. On August 24, the US Treasury unveiled Operation Economic Outcast, targeting Iranian oil-smuggling networks, sanctions evasion and the financing of activities Washington designates as terrorism. Treasury Secretary Scott Bessent pledged to cut off Tehran's remaining economic lifelines and warned that entities helping Iran evade sanctions could face secondary sanctions or lose access to the US financial system.

10 rials = 1 toman.

Read more: After Washington’s warning: What’s next for Baghdad–Tehran economic ties?