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Iran to scrap monthly petrol subsidy

A man fills a car at a petrol station in Tehran on May 25, 2015Iran will scrap a petrol allowance from midnight on Tuesday as part of a 2010 plan to phase out subsidies on energy products and boost the economy, media reported. Motorists will no longer to be entitled to buy 60 litres of petrol monthly at a reduced price of 7,000 rials (about 24 US cents) a litre, media reported. The reports said a litre of standard petrol will retail at 10,000 rials (around 34 US cents) and super will cost 12,000 rials.

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