- Nov 22, 2003
- Reaction score
Oh my, while some of us think 70's and Carter's wonderful handling of the embassy take over, it seems the Iranian's economy is retrograding to that of the 'Great Satan's' during that time period. Welcome to stagflation, Iran:
Iran votes to impose petrol rationing
By Gethin Chamberlain and Kay Biouki in Teheran, Sunday Telegraph
Last Updated: 12:24am GMT 11/03/2007
Iranians are bracing themselves for a fresh round of belt tightening after their government voted to impose petrol rationing coupled with sharp rises in the price of fuel.
The rationing system will limit Iranians to 22 gallons (100 litres) of petrol a month, two full tanks for a typical family car. It is a direct result of President Mahmoud Ahmadinejad's adherence to an economic model, based on Iranian self-sufficiency, that has caused housing and other living costs to soar.
The basic price of petrol will rise by 25 per cent, but Iranians who need to use more than the permitted amount will be hit by rises of up to 450 percent.
Economists predict that the knock-on effect on the average Iranian will be dramatic, with retailers expected to pass on the additional costs to consumers.
Iran is the second largest producer of oil in the Organisation of the Petroleum Exporting Countries but it imports 40 per cent of its petrol - worth about $3 billion a year - after its refining capacity was wrecked in the war with Iraq. It currently sells the petrol at subsidised prices....