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[Iran Increases Fuel Prices To Reduce Consumption And Subsidies] Iran Has Raised Fuel Prices For The First Time Since 2019, Effective December 13, Introducing A Tiered System Where Motorists Will Pay 15,000 Rials Per Liter For The First 60 Liters, 30,000 Rials For The Next 100 Liters, And 50,000 Rials For Consumption Beyond That. This Measure Aims To Curb High Fuel Consumption, As Iran Spends Approximately $50 Billion Annually On Fuel Subsidies And Anticipates Spending $6 Billion On Gasoline Imports This Year. Iran Primarily Sells Its Oil To China, With 90% Of Its Crude Exports Going To China.

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