(Persia House) | March 17, 2010

Gasoline Near Top of Imports List: 150 Percent Increase in Gasoline Imports –

Regime Hoarding Gasoline, Reducing Consumption in Anticipation of US Sanctions

ISNA – Summary translation by Persia House
March 17, 2010
With the import of over five million tons of gasoline worth over [$3.3 billion*] during the [Iranian calendar] months of Azar, Dey, and Bahman [November 22 – February 19], the amount of gasoline imports during the first 11 months of this [Iranian calendar year, March 2009 – February 2010] reached about $4.5 billion. This was a 62 percent increase over the same period the year before, despite a 30 percent drop in the price per kilo of gasoline.

Persia House Analysis:
The dramatic spike in Iran’s gasoline imports in recent months indicates that the Iranian government is seriously concerned about the effect gasoline sanctions may have on the already ailing Iranian economy. In the absence of sufficient refining capacity to meet the country’s domestic gasoline needs, the government is attempting to reduce the country’s vulnerability to gasoline sanctions in the short term by reducing consumption, and increasing gasoline reserves.

Read the entire article at Persia House >>