Iran is going to introduce petrol rationing to curb crippling domestic fuel consumption, if it gets parliamentary approval.
Vaziri Hamaneh, an oil minister said that the current situation will continue for a few months after which rationing will be implemented, pending the parliaments decision. But he did not say when the Bill would be submitted.
Though Iran the second largest producer in OPEC, a lack of refineries make it dependent on imports for 30 million liters of petrol a day to meet the demand for subsidized petrol which is sold in Iran at a rate 2.5 times cheaper than a liter of mineral water.
Earlier Hamaneh had announced that Iran would stop importing petrol, but later changed the decision when MP's argued that the move was not feasible.
The parliament had approved annual $2.5 billion budget in February for petrol imports but the government is now seeking approval for an additional $3.5 billion budget for the remaining bit of the year to cover a daily consumption demand of 70 million liters.
Deputy Oil Minister Mohammad Reza said that the government will present the parliament with a draft bill that included raising prices and rationing by late September.
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