Iranian Minister denies Iran’s oil export has reduced

Oil Minister Rostam Qasemi dismissed media reports on Tuesday that Iran’s oil exports have been reduced.
“We are not facing with reduction of export,” Qasemi told reporters on the sidelines of a cabinet meeting in Khorasan Razavi province.

He also categorically denied reports that the Oil Ministry has stored 30 million barrels of oil in tankers. “I personally deny this issue,” he asserted.

The oil minister also confirmed that petrol price will increase when the second stage of the subsidy reform plan goes into effect. “The price of petrol will increase.”

However, he added this point that how much the price will increase is something that the management office of fuel and transport and the Majlis should decide about.

Currently gasoline is sold at two prices: a 50-liter monthly allowance at 4000 rials (33 cents) per liter, and any amount above that at 7000 rials (57 cents) per liter.

On Sunday, the Majlis allowed the government to increase its revenues from subsidy cuts from the current figure of $44 billion to $53.8 billion.

The parliament’s decision will allow the government to raise energy prices and begin the implementation of the second stage of the subsidy reform plan.