Due to the blockade, Iran doubles gasoline prices

The Iranian authorities announced a doubling of the price for the third fuel tier for large consumers, amid tightened economic sanctions and the U.S. maritime blockade aimed at strangling the Iranian economy, with the new pricing taking effect starting September 8.

Speaking in statements relayed by official media, Iranian government spokesperson Fatemeh Mhajerani said the price of the third fuel tier will rise from 5,000 tomans to 10,000 tomans per liter (about 4.5 cents USD), while keeping the first and second tiers unchanged.

Iran follows a three-tier fuel pricing system: the first tier is priced at 1,500 tomans per liter for the first 60 liters monthly, the second tier at 3,000 tomans per liter for an additional 50 liters, and today the third tier’s price has been doubled.

This decision comes as the Iranian rial has experienced sharp depreciation, reaching 2.2 million rials per dollar in the black market—up from 1.7 million rials before the war erupted on February 28—and hitting a record high of 1.8 million rials in late April. The currency has suffered due to the war, sanctions, and the U.S. maritime blockade targeting reductions in Iranian oil exports, which pressures the domestic economy and fuels inflation.